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Mar 4, 2022
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Sports platform Fanatics valued at $27 bln in new funding round

By
Reuters
Published
Mar 4, 2022

​Fanatics has raised $1.5 billion in new financing, which now values the U.S. sports platform at $27 billion, sources familiar with the matter said on Wednesday.


The company was valued at $18 billion in August, when it raised $325 million from investors including SoftBank Group Corp'sVision Fund - Instagram @fanatics


Some of the investors in the latest round include BlackRock, Fidelity and Michael Dell's private investment firm MSD Capital, the sources said.

The company was valued at $18 billion in August, when it raised $325 million from investors including SoftBank Group Corp's Vision Fund.

Fanatics is attempting to leverage its fan base to build a sports commerce powerhouse that operates gaming, sports betting and media business units on top of its retail operations.

Fanatics said in February the company, along with American rapper Jay-Z and other celebrities, acquired 118-year-old Mitchell & Ness, known for its jersey replicas and streetwear.

The deal came more than a month after Fanatics purchased the trading cards and collectibles business from Topps.

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