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

this all is going to happen in wednesday

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

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

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

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

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

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