Topps had been the trading card partner of Major League Baseball since 1952. Its SPAC merger with Mudrick Capital just blew up.
Mudrick Capital Acquisition Corporation II said Friday its SPAC merger with The Topps Co. “has been terminated by mutual agreement” because of Major League Baseball’s decision to end a 70-year-old trading card deal with Topps. The announcement for the Nasdaq-listed blank check company in a filing with the Securities and Exchange Commission came a day after news broke that MLB will not renew its trading card arrangement with Topps. MLB is expected to give its trading card business to Fanatics, the sports retail company. Topps’ special purpose acquisition company merger with Mudrick, which had been announced in April, valued Topps at $1.
