Panini vs. Fanatics Legal Battle Moves Forward After Judge’s Ruling

The high-stakes lawsuit between Panini and Fanatics isn’t ending anytime soon. After Fanatics secured exclusive NFL and NBA trading card licenses, Panini filed an anti-trust lawsuit in 2023, arguing that Fanatics was unfairly monopolizing the market. In response, Fanatics countersued, claiming Panini interfered with its business dealings. Now, a federal judge has ruled that both cases can proceed, ensuring this legal fight is far from over.

Judge Rules Both Sides Have Valid Arguments—With Some Exceptions​

On Monday, Judge Laura Swain of the Southern District of New York issued a ruling that keeps both lawsuits alive, though not without modifications.

• Panini’s Anti-Trust Allegations – The judge didn’t buy Fanatics’ attempt to dismiss the claims entirely. She found that Panini presented enough evidence to suggest that Fanatics wields monopoly power, with its control over the market allowing it to set prices and push out competitors.
• Panini’s Damages Claim Gets Rejected – However, Swain threw out part of Panini’s lawsuit, arguing that Panini wasn’t actually harmed by Fanatics’ actions—pointing out that as one of the two dominant companies left in the industry, Panini may have actually benefited from the current market setup.
• Fanatics’ Unfair Competition Claims Fall Flat – The judge didn’t find Fanatics’ argument convincing that Panini engaged in unfair competition. Instead, she ruled that Panini simply disrupted Fanatics’ plans—but not in a way that violated competition laws.
• Fanatics’ Employee Poaching Allegations Stand – However, Swain did side with Fanatics in allowing their claim that Panini tried to block employees from leaving for Fanatics by threatening legal consequences.

Next Steps: A Long Legal Battle Ahead​

Now that both lawsuits are moving forward, the next phase—discovery—will involve:

• Sworn testimony from Panini and Fanatics executives
• Internal company documents being reviewed for evidence
• Depositions of key witnesses

This means that a resolution won’t come anytime soon. These types of cases can take months or even years to play out.

What This Means for Card Collectors​

So far, the average collector hasn’t felt much of an impact beyond Topps (owned by Fanatics) producing NBA and NFL cards again. But depending on how this lawsuit unfolds, the trading card landscape could change dramatically.

• If Panini wins the anti-trust suit, could new companies enter the market and create more competition?
• If Fanatics proves Panini interfered with its business, will Panini take a financial hit that weakens its position?
• Will collectors end up with more choices—or will Fanatics tighten its grip even further?

Right now, the fight for control of the trading card industry is just heating up. Collectors and investors alike will be watching closely to see how this courtroom battle reshapes the future of the hobby.