The NFL Is Bringing Back Topps — and It Couldn't Come at a More Significant Moment

The NFL, Fanatics Collectibles, and the NFL Players Association announced Thursday, April 2 that Topps is returning as the league's exclusive trading card licensee — the first time since 2016 that the iconic brand will be designing and developing NFL cards. For casual fans, it's a nostalgia play. For serious collectors, it's a seismic shift.

The timing is no accident. Panini America, which has held the exclusive NFL license since 2016, is losing it — the result of a broader industry takeover by Fanatics, the sports merchandise giant that acquired Topps and has since locked up licensing deals with the NFL, NBA, MLB, and their respective players associations. Despite filing an antitrust lawsuit against Fanatics and countersuing for unfair competition, Panini ultimately settled for its license expiring in April.

Topps vs. Panini

Topps and Panini have long been the two dominant forces in the trading card space. Topps entered the NFL card market in the 1950s, built its reputation on colorful player cards and the gum packed alongside them, and later helped ignite the modern collector boom when autograph cards entered the picture. Panini spotted the opportunity around 2009, launching brands like Score, Prizm, and Classics before eventually securing exclusive NFL rights in 2016.

Now the tables have turned. With Panini losing its NFL and NBA licenses, the brand faces the prospect of producing unlicensed cards — a significant downgrade. Licensed cards carry official team logos, player imagery, and league marks. Without them, card values tend to drop considerably. Even autographs in unlicensed products, like those seen in Leaf releases, can sell for a fraction of their licensed counterparts.

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"As we sat down and made this change, one of the things Topps pushed us on was really product innovation," said Casey Collins, the NFL's senior vice president of consumer products. "We are one of the few leagues that really has not brought in game-worn merchandise or game-used items into our collector trading card space."

What's Coming for Collectors

The first release under the renewed partnership, the 2025 Topps Chrome Football set, drops April 15. It will debut two new card lines: the Rookie PREM1ERE Patch Autograph Cards, which include jersey patches worn by the 2025 rookie class — among them Jaxon Dart, Cam Ward, and Cam Skattebo — and the NFL Honors Gold Shield Autograph Cards, featuring the gold shields worn in-game by 2024 award winners including MVP Josh Allen, Offensive Player of the Year Saquon Barkley, and Defensive Rookie of the Year Jared Verse.

Fanatics Collectibles CEO Mike Mahan said the company has been building toward this moment for four years.

"You have to continue to innovate, you have to continue to transform, you have to continue to tell new stories," Mahan said. "I don't think collectors are going to be disappointed about the lack of innovation."

What Happens to Your Panini Cards?

Licensed Panini releases are widely expected to hold their value, and may even appreciate as the last of their kind. Topps itself went through a similar stretch of producing unlicensed cards before Fanatics acquired it, and many of those cards remain valuable today.

The trading card market, meanwhile, shows no signs of cooling. What began as a pandemic hobby boom has only grown, with rare cards regularly selling for thousands — and sometimes millions — of dollars. The return of Topps to the NFL gives that market a new story to tell, and collectors a new reason to pay attention.