Topps officials say the sports and entertainment portion of its business isn’t for sale.
At a Q&A session with collectors and dealers Friday evening in Cleveland, David Leiner, the company’s Global General Manager of Sports and Entertainment, said the Topps trading cards we’ve come to know aren’t going anywhere.
“The Topps Sports and Entertainment Division is not for sale,” Leiner said. That should be welcome news for fans of the company. Leiner did say the division of the company that has produced candy and related consumable products for many years, is apparently open to a buyer.
“There is a process we’re evaluating on that side of the business but in terms of what we do on the sports and entertainment side of the business, there are no changes.”
Earlier this year, a story on Bloomberg.com indicated that Madison Dearborn Partners and Tornante Company, owners of Topps, were “speaking with bankers about strategic options for the company.” One such option, Bloomberg reported, was to break the company into two separate pieces. The Topps confectionery business is said to be worth about $40 million with the total value of the company pegged at about $40 million.
Other notes from the Q&A:
- Topps is bringing back its Topps of the Class promotion where youngsters can bring their report cards to local hobby shops for free gifts.
- Topps says Bryce Harper has taken a hands-on role in creating a new on-demand set. He’s also written the backs of the cards and picked his own all-stars. Other players and celebrities may do the same. Base sets will be $20-$30 with autographed versions also available. More details are coming next week.
- Topps is trying to get Juan Soto autographs into its Update product this year but nothing is certain yet.
- Look for new apps for products like Topps NOW in about a year.
- The company continues to weigh decisions on whether to push back release dates based on the return rate for autographed cards from players. They don’t want to release products with too many redemption cards.
- The company will bring its Transcendent line to WWE trading cards later this year with a meet and greet at Wrestlemania part of the perks.
Dealer Booth Shut Down Over Fake Autographs
A dealer at the National Sports Collectors Convention had his booth shut down and his autographed items confiscated by police Thursday, according to a story on Fox 8 in Cleveland and reports on the floor of the I-X Center.
Fellow dealers alerted show officials and investigators from the Cleveland Police Financial Crimes Unit soon arrived on the scene, confiscating numerous items believed to be carrying phony autographs. Sources say the booth was operated by Tony Posada of My Favorite Player, who was taken into custody.
After complaints from several other exhibitors who had seen Posada’s inventory, NSCC security called police.
The booth, located not far from the East entrance to the convention center, remained empty on Friday.
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