Alex Rodriguez has ended talks to merge his public company Slam Corp. with Italian baseball card maker Panini, a source told The Post.
A-Rod in mid-July was reportedly in talks to buy Panini. A few weeks ago, Panini rival Fanatics won an exclusive contract with Major League Baseball and its players association to make trading cards — hurting both Topps and Panini.
That means A-Rod and his special purpose acquisition company, Slam Corp., are likely fortunate they never signed a binding agreement to acquire Panini, which just fell in value.
Rodriguez didn’t immediately return a call for comment from The Post.
His SPAC, Slam Corp., like most blank-check companies, has two years to buy a business or has to return money to investors.
That means A-Rod’s Slam still has until Feb. 25, 2023 to invest, according to public filings.
Slam’s shares were at $9.65 in afternoon trading, a little under their $10 IPO price.
Bloomberg first reported the news that A-Rod had ended talks with Panini.
A-Rod, outside of Slam, which was formed to buy a single company, has succeeded recently in buying a 20 percent stake in the Minnesota Timberwolves, and failed in his spirited quest along with then-girlfriend Jennifer Lopez to buy the New York Mets.