American music star, Rick Ross has indicated interest in acquiring a 10 percent ownership stake in the American basketball team, Philadelphia 76ers.
The rapper made this known via a comment he dropped on Instagram that read, “I’ll buy his 10% lol.”
This came shortly after American businessman, Michael Rubin announced that he’s inclned to sell his minority stake in the 76ers. Rubin, who is worth $8 billion according to Forbes, purchased the 76ers for $290 million with an ownership group in 2011.
As CEO of Fanatics, an American online retailer of licensed sportswear, sports equipment, and merchandise, Rubin plans to turn his attention toward the sports gambling world to accelerate the brand.
“Today, Fanatics has quickly transformed into a global digital sports platform across multiple businesses, with more than 10,000 employees in 57 countries and serving nearly 100 million sports fans worldwide. As our Fanatics business has grown, so too have the obstacles I have to navigate to ensure our new business don’t conflict with my responsibilities as part-owner of the Sixers,” Rubin wrote on Instagram.
He continued: “With the launch of trading cards and collectibles this year–which will have individual contracts with thousands of athletes globally- and a soon-to-launch sports betting operation, these new businesses will directly conflict with the ownership rules of sports leagues. Given these realities, I will sadly be selling my stake in the Sixers and shifting from part-owner back to life-long fan.”
Meanwhile, it should be recalled that barely a few weeks ago, Rick Ross expressed interest in acquiring a 5 percent stake in the Miami Dolphins.