Getty Joel Embiid #24.
Not much is going right for the Philadelphia 76ers on the court. The transition defense is putrid, Joel Embiid looks a shell of his near-MVP self, and the revamped bench is a) not getting enough time and b) failing to do anything with the limited minutes it does receive.
On Wednesday night, the Sixers dropped yet another game, this time to the Toronto Raptors, bringing their early season record to 1-4 through five games. But while things might be going poorly for the Sixers on the floor, off-court, the team’s two biggest stars just made a major move.
On Tuesday, it was reported by Eben Novy-Williams of Sportico that Joel Embiid and James Harden would become part-owners of Mitchell & Ness, a sports apparel company founded in Philadelphia in 1904. Embiid and Harden are joined by a slew of other stars, including LeBron James, Kevin Durant, and Chris Paul.
The investment doesn’t come as a complete shock, especially given another of Mitchell & Ness’ recent financial deals.
Former 76ers Owner Buys Mitchell & Ness
Last year, Mitchell & Ness was purchased by Fanatics, the sports goods juggernaut that also has significant dealings in trading cards, licensing agreements, and apparel. If the name “Fanatics” sounds familiar, it should. Fanatics CEO is Michael Rubin, who, until recently, owned stake in the Philadelphia 76ers and New Jersey Devils.
After Rubin took over Mitchell & Ness for $250 million, the shares were split 75-25 between Fanatics (75%) and the investment team (25%) which then-included Jay-Z, Meek Mill, and Lil Baby. Now, that list of investors just got longer with the additions of Embiid, Harden, and others.
For Harden, it represents another investment in a summer of off-court financial activity. At the end of the offseason, he announced his latest side hustle: JHarden Wines, a label that strives to combine affordability with quality.
Embiid and Harden also aren’t the first Sixers to partner up with a local business. During training camp, Tyrese Maxey announced a deal with WaWa, further ingratiating himself with the fanbase after a summer of touring Philadelphia sports.
For Mitchell & Ness, it’s a long time coming, especially given their local roots.
Mitchell & Ness Has Long Roots in Philadelphia
Mitchell & Ness is no spring chicken. The sports apparel company has been around for over 100 years, after it was started by Frank Mitchell and Charles Ness in 1904. The company started out manufacturing tennis rackets and custom golf clubs for local athletes, as well as jerseys for the local baseball and football clubs.
In 1933, the brand partnered with the Philadelphia Eagles to make the team’s uniforms, which extended into the 1960s. This deal was followed up with another branding deal with the then-Philadelphia Athletics to do the same.
Today, you won’t find Mitchell & Ness on any team equipment, though. That’s because the company primarily specializes in retro jerseys and gear. Need a Kentucky Colonels Artis Gilmore jersey? They’ve got one. A George Mikan Minneapolis Lakers jersey? They’ve got you covered.
With the increased investment and player-backing, there’s only one way for the Philly-based company to go: up.