Legendary Hudson Valley Sports Memorabilia Business to Close
After almost four decades, a popular memorabilia business is closing shop and laying off all 60 employees.
Steiner Sports has had a tumultuous few years. Founded in the 1980s, the sports memorabilia mecca has made a name for themselves by selling authentic autographs and game-used balls, bats and other equipment. According to the New York Post, the company was sold in 2000 to Omnicom for $25 million. Founder Brandon Steiner lost control of the company but stayed to run the business.
Omnicom cut deals with big teams, including the Yankees who supplied Steiner Sports with bats, balls, helmets, jerseys and other equipment used during games. The partnership with the Yankees hit a snag in 2009 when Steiner and the team sold off items from the old Yankee Stadium including seats, signs and other items. Customers claimed that the items were repainted, and restored and filed a class-action suit against the Yankees and Steiner.
The company made headlines again last year when they partnered to sell game-used helmets signed by Eli Manning. Steiner settled a lawsuit brought by collectors who claimed that the helmets were fake.
On May 31 the company was sold to Fanatics, a sportswear company in Florida. Fanatics is run by billionaire Michael Rubin, who also co-owns the Philadelphia 76ers and New Jersey Devils. As a result, the New Rochelle location will close in October, with all 60 employees to be laid off starting this August.
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