Replica company

LeBron James and Kevin Durant become latest investors in sportswear company Mitchell & Ness

LeBron James, Kevin Durant and a long list of other star NBA players and other well-known personalities are among Mitchell & Ness’ new investors.

The Philadelphia-based apparel and sportswear company is known for its extensive collection of vintage apparel replicas.

Joel Embiid, Devin Booker, Chris Paul, Odell Beckham Jr., James Harden, Klutch Sports Group founder Rich Paul and Kevin Hart now make up the company’s ownership group along with James and Durant.

CLICK HERE FOR MORE SPORTS COVERAGE AT FOXBUSINESS.COM

LeBron James #23 of the Los Angeles Lakers talks to Kevin Durant #35 of the Golden State Warriors during a first half time out at Staples Center on April 4, 2019 in Los Angeles, California. (Yong Teck Lim/Getty Images/Getty Images)

Mitchell & Ness was acquired by another group of investors in February. Rapper and businessman Jay-Z and hip-hop artist Lil Baby were part of this ownership group.

Billionaire Micheal Rubin made the announcement in a tweet on Wednesday.

Rubin’s company, Fanatics, took control of Mitchell & Ness in this deal. Upon closing of the deal, Fanatics held a 75% stake in the company, while the investor group took the remaining 35%.

Mitchell & Ness received a valuation of $250 million at the time of the transaction.

FANATICS CEO MICHAEL RUBIN COMPLETES SALE OF STAKE IN 76ERS, DEVILS: REPORT

Joel Embiid #21 and James Harden #1 of the Philadelphia 76ers chat during the fourth quarter against the Cleveland Cavaliers at Rocket Mortgage Fieldhouse on April 3, 2022 in Cleveland, Ohio. The 76ers beat the Cavaliers 112-108. (Jason Miller/Getty Images/Getty Images)

These new investors, led by some of the NBA’s biggest stars, will help the company with future collaborations, capsule collections and other creative endeavors.

Mitchell & Ness has successfully acquired the rights to all 32 National Hockey League teams. The company now has the green light to design products specifically for the NHL.

SHAQ TEAMS UP WITH JEFF BEZOS TO BUY SUNS

james lebron

Los Angeles Lakers forward LeBron James (6) exults while leading his team during a second half against the Detroit Pistons at Staples Center. (Robert Gauthier/Los Angeles Times via Getty Images/Getty Images)

Fanatics also acquired trading card company Topps earlier this year.

Fanatics CEO Michael Rubin recently sold his share of the Philadelphia 76ers and New Jersey Devils.

Rubin had a 10% stake in holding company Harris Blitzer Sports & Entertainment, which owns the franchises. The new Fanatical Athlete offers and the new gaming and betting division interfere with league team ownership rules.

CLICK HERE TO GET THE FOX NEWS APP

David Adelman, chairman of 76 Devcorp, a real estate development company, reportedly purchased a substantial portion of Rubin’s stake in both franchises.

Adelman’s 76 Devcorp eventually hopes to build a new 76ers arena in downtown Philadelphia. Currently, the four stadiums and arenas of Philadelphia’s major professional sports teams share a complex in South Philadelphia.