Topps has been synonymous with trading cards, particularly baseball cards, for 70 years.
That era will soon be over. Major League Baseball and the Major League Baseball Players Association are ending their licensing agreement with Topps in favor of a deal with Fanatics, the up-and-coming sports collectible brand. The loss of baseball rights also led to the abrupt cancellation on Friday of a plan for Topps to go public, casting its future into question.
The company, which also owns Bazooka gum, announced a deal in April to merge with a special purpose acquisition company, or SPAC, run by Mudrick Capital. The $1.3 billion merger was set to go to a shareholder vote next week.
Topps and Mudrick announced…