Fanatics is expanding its retail presence in sports — via the Olympic Games.
The digital sports platform has entered a merchandise licensing and retail agreement with LA28, the 2028 Summer Games’ organizing committee, and Team USA. Financial terms of the deal weren’t disclosed.
- The deal gives Fanatics the right to operate in-venue retail locations during and around the Games. It will also outfit LA28 volunteers during the Games.
- Fanatics previously handled online merchandise for Team USA.
Fanatics, which hit a $27 billion valuation earlier this year, joins Nike and Ralph Lauren Corp. as Team USA apparel partners. Nike, whose deal could reportedly be worth as much as $200 million, provides on-field gear, and Ralph Lauren outfits athletes for ceremonies.
Last October, Fanatics and the International Olympic Committee announced plans to build the first-ever permanent e-commerce platform for the Olympics Games up to 2028.
Deal After Deal
Earlier this week, Fanatics signed a 10-year deal with MLB’s Baltimore Orioles to oversee the team’s retail locations at Oriole Park, marking Fanatics’ fifth MLB team with full in-venue services. The platform will also open a new East Coast distribution center in Maryland.
This year alone, Fanatics has entered a long-term, exclusive deal with Nike to manufacture college sports apparel, acquired Topps trading cards for $500 million, and negotiated NCAA sports licensing agreements to build a network of more than 100 universities.
Fanatics claims it serves “over 900 leading sports properties.”