PSA Sold - Is Panini Next?
Collector's Universe - parent company of PSA Grading - has been acquired for $700 million by prolific collector Nat Turner and other investors but hot on the heels of that news more hobby properties have been picked up! Let's talk about it because it's almost 2021 and the hobby looks set to ramp up again!
The announcement on Monday agreed to sell the company for approximately $700 million to a group of investors which will take the company private, and includes the family office of new New York Mets owner Steven Cohen.
What could it mean for the hobby having a die hard collector like Nat Turner at the helm? Faster grading turnaround? Digital innovations in grading? It's going to be interesting to find out.
But thats not the only news this week.
Hot on the heels of this announcement we had Gary Vee tweeting about big plays coming and we learned that card selling platform StarStock had a raised $1.3 million investment from Kevin Durant, Matthew Dellavedova and AJ Vaynerchuk among others. The fledgling platform has only been operating for 12 months but was enough to impress investors.
The StarStock platform tracks player's values.
In addition, Panini recently let slip that they had acquired the license to UFC cards. They're saving the official announcement til next year on what they intend to do with the brand, but can you imagine how big the interest will be in the first Prizm UFC?
What's next? Could Upper Deck get sold?
2021 is looking to be bigger than 2020 for everyone in the hobby.
Watch our full podcast on the PSA sale on our YouTube to learn more and check out Charlie and Grayson's IG live this morning on these big hobby plays: