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Dan Hajducky
Multiple Authors
FIFA and Fanatics have established a long-term exclusive licensing agreement that allows Topps, a subsidiary of Fanatics, to create trading cards, stickers, and trading card games for the World Cup and other FIFA events beginning in 2031.
While the financial details of the deal remain undisclosed, insiders indicate that the agreement will last through multiple World Cup cycles.
FIFA President Gianni Infantino emphasized the impact of Fanatics on collectibles, stating, “Across the sports landscape, we see that Fanatics are driving massive innovation in collectibles that provides fans with a new, meaningful way to engage with their favorite teams and players. This partnership allows us to globalize that fan engagement, leveraging our global tournament portfolio to create a vital commercial revenue stream that we channel back into the game of football.”
This agreement concludes Panini’s long-standing FIFA World Cup sticker license. Excluding the 1994 World Cup held in the United States, Panini operated under this agreement from 1970 until the 2030 tournament edition.
Topps has already succeeded Panini as the exclusive licensee and producer of trading cards, stickers, and collectibles for the UEFA events, covering the 2024 and 2028 men’s Euros, the 2025 women’s Euros, and the Nations League Finals through 2028.
Fanatics’ founder and CEO Michael Rubin shared with ESPN, “This marks a significant milestone for us, representing the most significant global opportunity to expand our business.”
Rubin discussed how a dinner five years ago with the Krafts, Infantino, and FIFA Secretary General Mattias Grafstrom set the groundwork for this partnership. “At that point, we had acquired several rights in the U.S. and generated numerous ideas, but we needed validation,” he reflected. “We’ve since demonstrated our capabilities, making it a natural fit for FIFA to collaborate with us.”
Fanatics has introduced innovative collectibles initiatives, such as the Debut Patch program forged initially with Major League Baseball and expanded when Fanatics acquired trading card rights for the NBA last fall and the NFL in April. Players will debut their patches as early as this year’s World Cup, despite the license taking effect at a later date.
“When we secure licensing rights, we often do so years in advance — you may have noticed NFL players wearing Premiere patches over the past three seasons, which will appear on our cards,” explained Rubin. “Building compelling products takes time, along with the history that enriches our offerings.”
Recently, Fanatics obtained exclusive licensing rights to produce trading cards and sticker books for Brazil’s men’s and women’s teams (launching in 2027), as well as for England and Germany (2031) and Italy (2035). The specific years for these agreements were not disclosed. Additionally, an exclusive licensing agreement signed this week will enable Fanatics to create trading cards, stickers, and games for Argentina’s men’s, women’s, and youth national teams, effective immediately.
Insiders have revealed that future licenses for the U.S. national teams have also been secured. In February, Fanatics entered into an exclusive arrangement with David Beckham as well.
Rubin highlighted the remarkable growth of UEFA collectibles, stating, “When we began, that segment was a $15 million business — it’s now surpassed $200 million. The Euros have experienced significant growth, and the Premier League has also seen phenomenal increases in its first year of working with us.”
According to sources acquainted with Fanatics’ finances, the company’s collectibles revenue is projected to approach $5 billion by 2026, with total revenue nearing $14 billion.
Rubin noted, “Currently, about 85% of our business is U.S.-based. We opened a store in London last year, and it is projected to generate $35 million in sales this year, making it one of the largest trading card stores in the world. The World Cup is the pinnacle global event, so leveraging everything we’ve learned to partner with FIFA presents an extraordinary opportunity in global football.”
Additionally, Fanatics will distribute over $150 million worth of collectibles free of charge throughout the life of the partnership.
Fanatics Fest will host the official FIFA World Cup final news conferences on July 17 at the Javits Center in New York, featuring coaches and players, along with a viewing party for the World Cup final on July 19.
FIFA has selected Fanatics as the official on-site retail licensee for the 2026 World Cup, overseeing retail operations across 104 matches in the United States, Canada, and Mexico.
With these lost rights, Panini’s future appears uncertain.
Panini and Fanatics are currently embroiled in legal disputes, with Panini accusing Fanatics of engaging in anticompetitive practices and monopolizing the sports card sector following exclusive agreements with the NBA and NFL, previously held by Panini. Fanatics has refuted these claims and is countersuing, alleging that Panini has engaged in a “protracted, unlawful and deceitful campaign of unfair trade practices and […] deceitful misconduct” in an effort to compel Fanatics to pay exorbitant sums to terminate these licenses before their expiration.
The Athletic reports Panini’s assertion of making $720 million from their 2022 World Cup products, with projections of $1.48 billion and $1.5 billion from licensed products for the 2026 and 2030 World Cups, respectively.
In late 2025, Panini engaged CitiGroup as a financial advisor to explore potential strategic options, including a full or partial sale or a public stock offering.
Their estimated valuation stands at $5.8 billion, and shareholders are expected to reach a decision regarding external investments by the end of the year.