• Loading stock data...
Wednesday, October 8, 2025

Fanatics Trading Cards Raises $350M, Valued at $10.4B

  • Fanatics Trading Cards, the just-launched company launched by merchandise company Fanatics raised $350 million in a Series A round.
  • The company is now valued at $10.4 billion.
fanatics_logo_behind_man
Kirby Lee-USA Today Sports/Design: Alex Brooks

Fanatics’ trading card company is off to a flying start, raising $350 million at a $10.4 billion valuation. 

The Series A round for the spinoff company came from Silver Lake, Insight Partners, and the holding company for UFC-owner Endeavor. The three investors collectively secured an approximate 3.4% stake in the new company. 

Just weeks old, Fanatics Trading Cards is now valued eight times higher than the $1.4 billion valuation of 83-year-old Topps ahead of its planned SPAC merger. The merger was called off when Topps lost its licensing deal with MLB to Fanatics in August.

  • Fanatics Trading Cards will make baseball cards starting in 2023.
  • It will replace Panini as the NBA’s card maker in 2026.
  • It has a 20-year licensing deal with the NFLPA starting in 2026.

The NBA, NBPA, MLB, MLBPA, and NFLPA will all hold stakes in the new company.

Fanatics isn’t done venturing into sports-related industries: It is looking into acquiring a sportsbook and has held talks with Betsson and Rush Street Interactive. Fanatics has also said it is interested in breaking into the ticketing industry.

The company raised $325 million at an $18.4 billion valuation in August, tripling its value over the previous year. The NFL bought a 3% stake in the company in 2017 for $95 million.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Paul Cartier

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.
Louisville’s Miller Moss and several of his teammates stopped by Olympus Gaming Lounge to play EA Sports College Football 26 with fans for a meet and greet. July 11, 2025

Saudis, Silver Lake, Jared Kushner Take EA Private in $55B Deal

Electronic Arts makes “Madden,” “EA Sports College Football,” and more.
Kōloa Rum Company Rum Rusher

Panthers Bubbly, Jets Wine, Manning Whiskey: The Sports Booze Boom

A sommelier dives into the sports booze trend—and tries Jets wine.

Featured Today

Nov 17, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers fans wave Terrible Towels against the Baltimore Ravens during the fourth quarter at Acrisure Stadium

Steelers’ Irish Roots Are Deeper Than NFL Dublin Game

The Steelers have history and the foundation for a future in Ireland.
FARMINGDALE, NY - SEPTEMBER 23: Rory McIlroy of Team Europe hits out of the rough on the first hole during the 2025 Ryder Cup at Bethpage State Park on Tuesday, September 23, 2025 in Farmingdale, New York.
September 25, 2025

Ryder Cup in New York: Record-Setting Hopes and Fan Concerns

Organizers anticipate record attendance and revenue, but worry remains about fan behavior.
FARMINGDALE, NY - SEPTEMBER 22: Cameron Young of Team USA hits his tee shot on the third hole during the 2025 Ryder Cup Practice Round at Bethpage State Park on Monday, September 22, 2025 in Farmingdale, New York.
September 23, 2025

U.S. Ryder Cup Players Will Be Paid. Not Everyone Is Pleased

Americans are receiving a $200,000 stipend, and not everyone is pleased.
Cheryl Reeve
September 21, 2025

How Cheryl Reeve Turned the Lynx Into the WNBA Gold Standard

Reeve has Minnesota six wins away from an unprecedented fifth WNBA title.

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
June 24, 2025

Timberwolves’ 4-Year Ownership Saga Ends As A-Rod, Lore Take Over

The unanimous approval brought a clean end to a long-disputed transaction.
Apr 26, 2025; San Francisco, California, USA; Houston Rockets guard Fred VanVleet (5) before game three of first round for the 2024 NBA Playoffs against the Golden State Warriors at Chase Center.
June 25, 2025

Rockets Get $20 Million in Wiggle Room From New VanVleet Deal

VanVleet first signed with the Rockets in 2023.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
April 20, 2025

Max Verstappen Linked to $300M Aston Martin Deal Ahead of Miami GP

Aston Martin is currently seventh in the constructors championship.
March 27, 2025

Peyton Manning’s Omaha Productions Gets PE Boost

The Hall of Famer’s company gains another prominent backer.
March 20, 2025

High School Sports Power Signs Eight-Figure Rights Deal in First

The deal pays roughly $1 million annually, FOS has learned.
March 20, 2025

Maxx Crosby’s Agent: Edge Rushers Set to Dominate NFL’s Non-QB Market

Maxx Crosby just signed a three-year, $106.5 million extension.