Michael Rubin selling stake in company that owns Philadelphia

minority owner of the Philadelphia 76ers, is selling his stake in the Harris Blitzer Sports & Entertainment company

Rubin, who sources say holds a 10% equity stake in HBSE, is divesting his 11-year stake in the NBA and NHL franchises

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this all is going to happen in wednesday

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Fanatics is a $20 billion-plus company that sells licensed professional and college merchandise online

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The expansion into sports betting and negotiating individual partnership deals with pro athletes

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Prior to the Sixers-Brooklyn Nets trade involving guard James Harden in February,

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Rubin drew the scrutiny of NBA rivals because of his close relationship with Harden.

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Rubin can now enter outside financial partnerships with players that were disallowed because

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he was a part-owner of the teams, an avenue that could prove beneficial to the Sixers as they work to re-sign Harden.

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