• Loading stock data...
Friday, May 30, 2025

Fanatics Raises $325M in Latest Funding Round

  • Fanatics raised $325 million at an $18 billion valuation.
  • That’s about triple its valuation from a similarly sized fundraise a year ago.
Fanatics/Design: Alex Brooks

Fanatics has nearly tripled in value over the last year, and now — after a C-suite reshuffle — it’s looking into new lines of business.

The sports merchandise company raised $325 million from Major League Baseball, SoftBank, Roc Nation, Jay-Z, Silver Lake, and others at an $18 billion valuation, according to people familiar with the matter.

Fanatics, founded in 1995, has seen its valuation soar over the past year.

  • In March, it raised $320 million at a $12.8 billion valuation.
  • In August 2020, it raised $350 million at a $6.2 billion valuation.
  • Softbank invested $1 billion in Fanatics in 2017 at a $4.5 billion valuation. The NFL and MLB joined the round with around $95 million and $50 million, respectively.
  • Fanatics has raised about $2.2 billion total.

Fanatics partners with all the major U.S. sports leagues on e-commerce and owns the NFT company Candy Digital.

Now it has its sights set on sports betting, gaming, ticketing, and media. In June, it hired former FanDuel CEO Matt King to run its betting operations. Chairman Michael Rubin is stepping into the CEO role, while current CEO Doug Mack will continue to oversee the company’s e-commerce division.

Former Los Angeles Dodgers president Tucker Kain is joining as chief strategy and growth officer, and Glenn Schiffman, who recently left as CFO of investment company IAC, will take the same role at Fanatics.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Oct 26, 2024; Los Angeles, California, USA; Los Angeles Dodgers designated hitter Shohei Ohtani (17) injures left shoulder whilte attempt to steal second base in the seventh inning against the New York Yankees during game two of the 2024 MLB World Series at Dodger Stadium.

Yankees-Dodgers Clash Draws TV Spotlight, Sky-High Prices

The teams’ lone regular-season series features three nationally aired games.
Softball

MLB Makes Eight-Figure Investment in New Softball League 

Athletes Unlimited and Major League Baseball announced the deal Thursday morning.

Mets Casino Project Moves Forward As Cohen Shakes Up Front Office

Scott Havens will depart as team president of business operations.

Featured Today

How Rolex Paved the Way for Luxury’s Love Affair With Tennis

“It’s almost impossible to think about tennis without thinking about Rolex.”
Mar 23, 2025; Miami, FL, USA; Alexandra Eala (PHI) reacts after winning a point against Madison Keys (USA)(not pictured) on day six of the Miami Open at Hard Rock Stadium.
May 24, 2025

Alex Eala Is Defying Her Country’s Odds to Make French Open History

The Philippines native has overcome a unique set of financial odds.
May 24, 2025

Indiana Is the Center of the Basketball Universe—Thanks to Both Pro Teams

The Fever and Pacers are thriving at the same time.
Around the Horn - October 26, 2020
May 23, 2025

‘Quirky, Nutty, Bombastic’: 10 ‘Around the Horn’ Faces on Their Top Moments

“A quirky, nutty, bombastic, mostly wrong, sometimes right, crazy sports family.”

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

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

Peyton Manning’s Omaha Productions Gets PE Boost

The Hall of Famer’s company gains another prominent backer.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

In Episode 7 of Portfolio Players, go inside the boardroom with Avenue Capital CEO and former Milwaukee Bucks co-owner Marc Lasry on Giannis’s future, women’s sports, and upstart leagues like TGL and Unrivaled. 
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.
March 4, 2025

Eagles Make Saquon Barkley NFL’s Highest-Paid Running Back Ever

Barkley is coming off a historic 2024 season with the Eagles.
February 18, 2025

Tiger Woods Signs First PGA Tour Player to Wear Sun Day Red

Karl Vilips will wear Sun Day Red at his season debut at the Mexico Open.
Teammates embrace during matchup in The Hundred cricket league
February 15, 2025

Google, Microsoft, Adobe CEOs Buy Stakes in Cricket League

The England and Wales Cricket Board raised £520m by selling team stakes.