• Loading stock data...
Tuesday, September 16, 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

Premier Lacrosse League

‘The Circus Is Coming to Town’: Why Upstart Leagues Start on Tour

In their ambitious plans, a traveling schedule is only temporary.
PHILADELPHIA, PENNSYLVANIA - APRIL 19: A detailed view of the MLB Debut patch on the jersey of Patrick Monteverde #44 of the Miami Marlins prior to game against the Philadelphia Phillies at Citizens Bank Park on April 19, 2025 in Philadelphia, Pennsylvania.

The Tiny Jersey Patch at the Center of the MLB Rookie Card..

Autographed cards containing a piece of baseball history have upended the market.

Eagles-Chiefs Super Bowl Rematch Could Set More NFL Ratings Records

Fox will nationally televise Sunday afternoon’s matchup.

ESPN’s ‘MNF’ Ratings Up 8% As NFL Surges to Strong Start

ESPN posts its second-best Week 1 “Monday Night Football” audience.

Featured Today

Sep 7, 2025; Orchard Park, New York, USA; Buffalo Bills fans react during the fourth quarter against the Baltimore Ravens at Highmark Stadium.

As Bills Ascend, Their Next Frontier Lies in Canada

Buffalo and the powerful Canadian entity MLSE come together in a new pact.
opinion
September 9, 2025

The Good, The Bad, and The Ugly from NFL’s Week 1 Broadcasts

Many viewers decried the addition of ads to “NFL RedZone.”
Aug 23, 2025; Tampa, Florida, USA; Buffalo Bills quarterback Josh Allen (17) leads the team onto the field for warm ups before a game against the Tampa Bay Buccaneers at Raymond James Stadium.
September 7, 2025

Slow Burn: The NFL’s Private-Equity Era So Far

Three deals have been struck to date. But the league is bullish.
Ohio State Buckeyes quarterback Julian Sayin (10) and linebacker C.J. Hicks (11) shake hands while leaving the field following the NCAA football game at Ohio Stadium on Aug. 30, 2025. Ohio State won 14-7
September 6, 2025

How Ohio State Rebuilt Its NIL Strategy in the Rev-Share Era

The Buckeyes are staying “aggressive” in the new NIL landscape.

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 World Series Champ Dexter Fowler Became a Premier League Team Owner

Dexter Fowler discusses navigating retirement and embracing new roles as an owner & investor.
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.