✅ What we know

  • The longtime CEO and major shareholder, Aldo Hugo Sallustro, passed away in April 2025. cllct+1

  • After his death, Panini appointed a financial adviser (Citi) to help explore the company’s strategic options, including a potential sale or partner/investor scenario. Reuters+1

  • The company is estimated to have generated around €1.6 billion / US $1.9 billion in revenue last year. Reuters+1

  • The valuation being discussed is €3-4 billion (roughly US $3.3-4.4 billion). Collector Club+1

⚠️ What we don’t know

  • No firm decision has been announced that Panini is definitely being sold — they’re exploring options. cllct

  • It’s unclear whether the sale would be of the entire Panini Group, just the trading-cards business, or some form of joint venture/majority investment.

  • We don’t know which specific buyers are confirmed or how negotiations are progressing. Some names have been floated (private equity, potential industry players), but nothing is final. cllct+1

  • No timeline has been confirmed for when a sale decision might be made.

🔍 Why this is big for the hobby & collectible market

Given your deep interest in the sports-card industry, this matters for a few reasons:

  • If Panini sold or got major investment, it could impact licensing, product quality, supply, and distribution in the card market.

  • The valuation and scale show how big the collectible/ trading-cards business is becoming (multi-billion dollars).

  • Any major shift in Panini’s ownership or strategy could ripple into how cards are produced, licensed, released — affecting both collector behavior and content you might produce.

 

 

 

 

✅ What is Publicly Known

  • Panini Group has appointed Citi as its financial adviser to explore strategic options, including a possible sale of the company. Reuters+2cllct+2

  • The move comes after the passing of longtime CEO and major shareholder Aldo Hugo Sallustro in April 2025. The Knight's Lance+2Collector Club+2

  • Panini’s reported revenue for the most recent period is about €1.6 billion (US ≈ $1.9 billion). Reuters+2Collector Club+2

  • The company’s valuation (in early reports) is estimated between €3 billion and €4 billion (roughly US $3.3 billion-$4.4 billion) if a sale were done. Reuters+1

  • The sale would likely include or focus on Panini’s trading-cards and collectibles business (stickers, cards, etc). cllct

  • Among possible interested buyers: The Topps Company (U.S.) and various private-equity firms. Sports Collectors Daily+1

  • Notably: Fanatics (the major U.S. hobby competitor) reportedly is not a buyer, according to sources close to the matter. SI+1

⚠️ What Isn’t Public / What to Watch

  • No official announcement of a signed sale agreement or price has been disclosed.

  • It isn’t clear whether the deal (if done) would be for 100% of Panini, or just a major controlling-stake, or just parts of the business (e.g., collectibles vs comics).

  • Licensing/contract issues: Panini has been losing major league licenses in the U.S. (NBA/NFL) which may impact value. cllct

  • Legal risk: The company is in litigation (via U.S. courts) with Fanatics over alleged anti-competitive behavior; how this plays into valuation or sale terms is a wildcard. Collector Club

  • Timing is uncertain—sources say “exploring options,” not “in active sale negotiations with definitive timeline.” Yahoo Sports+1

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