NEW YORK — In a high-stakes legal battle, Fanatics has been ordered for the third time to disclose six significant contracts related to trading card licensing in an ongoing antitrust case brought by Panini. A U.S. federal magistrate judge ruled that these documents are crucial for the dispute, which asserts that Fanatics is attempting to monopolize the trading card market through exclusive long-term agreements with leading sports leagues and player associations.
Fanatics has resisted the order, citing concerns that revealing these contracts—covering their agreements with MLB, NBA, and NFL—could compromise sensitive information and provide Panini with an unfair advantage in the marketplace. The company’s legal representatives argue that the content within these agreements involves confidential trade secrets and competitive strategies.
Despite Fanatics’ objections, Panini’s attorneys maintain that understanding the terms of these contracts is essential to their case, which alleges that Fanatics is engaging in anti-competitive behavior. In a decision released this week, U.S. Magistrate Judge Valerie Figueredo stated that the contracts must be handed over in their entirety, although access will be limited to Panini’s outside legal team for the purposes of this litigation.
In her ruling, Judge Figueredo expressed her awareness of the competitive landscape between the two firms. “While the licenses are indeed sensitive, redacting essential components relevant to the ongoing claims negatively impacts Panini’s case when other safeguards exist to protect Fanatics’ interests,” she wrote.
This legal dispute traces its beginnings to 2023 and has progressed slowly through the discovery phase. Judge Figueredo first mandated the sharing of these documents in December, but Fanatics appealed the order, arguing that it should not be required to disclose the sensitive information. This appeal was denied by Chief Judge Laura Swaim, leading to a renewed effort by Figueredo to compel compliance on May 1.
Following a subsequent submission of redacted contracts by Fanatics, Panini’s legal team expressed strong objections, initiating a contentious hearing on July 2. Ultimately, Panini’s attorneys prevailed in their argument for access to the full, unedited versions of the contracts, with the previous terms of restricted access reaffirmed by the judge.
Fanatics has until July 21 to file another appeal in response to Figueredo’s ruling, leaving the case still in its early stages with no trial date set. The resolution may take years as both parties continue navigating the legal complexities involved.
As the litigation unfolds, the implications for the trading card market continue to be closely watched. The outcome may not only determine the future of Fanatics and Panini but could also reshape the competitive landscape of sports memorabilia and trading cards.
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