• Loading stock data...
Saturday, July 12, 2025

Fanatics Valuation Jumps To $31B After $700M Raise

  • Fanatics will look to acquire more companies after raising around $700 million at a $31 billion valuation.
  • The raise was led by new investor Clearlake Capital.
Michael-Rubin-Fanatics
Fanatics

Fanatics is loading up on cash with an eye toward expansion.

The digital sports platform and retail heavyweight raised around $700 million in common stock, bringing its valuation to $31 billion, sources close to the matter confirmed to Front Office Sports.

  • The round was led by new Fanatics investor Clearlake Capital, the primary financial backer of Todd Boehly’s purchase of Chelsea FC.
  • New investors, including LionTree LLC, made up 60% of the round. The balance was provided by previous backers including Silver Lake, Fidelity, and SoftBank.
  • Fanatics raised $1.5 billion at a $27 billion valuation in March.

The business expects to bring in $8 billion next year, per sources, across separate companies including merchandise-focused Fanatics Commerce, Fanatics Collectibles — which includes $500 million acquisition Topps — and Fanatics Betting & Gaming, which will launch next year.

Although Fanatics will gain control of trading card rights for the NFL, NBA, WWE, UFC, and college athletics in the coming years, those future proceeds aren’t included in the revenue projection.

Harris-Blitzer

Fanatics’ Sports Betting Plans Force CEO to Sell Stake in 76ers, Devils

The transaction reportedly values Harris Blitzer Sports & Entertainment at $2.5 billion.
October 21, 2022

M&A Play

The company is free cash-flow positive, per sources, and intends to use the cash infusion to pursue mergers and acquisitions.

One area of focus could be its nascent sports betting and iGaming venture. In October, CEO Michael Rubin said Fanatics would launch its sportsbook in January and bring it to 15-20 states by the next NFL season.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Bobbleheads are seen at Vintage Indy Sports, Tuesday, April 29, 2025 in Speedway. The local sports memorabilia store opened recently.

Baseball’s Bobbleheads Are the Center of the Collectibles Universe

Baseball’s most important keepsake drives long lines—and big business.
NFL

30 NFL Second-Rounders Still Unsigned With Camps Set to Open

Saturday is the earliest rookie report date for training camp.
Alex Rodriguez

Finally in Charge, A-Rod Says Timberwolves Need New Arena

Rodriguez and Lore would like to repair team relations with Kevin Garnett.

Najee Harris Contract Situation Unclear Following Fireworks Injury

The running back signed a one-year, $5.25 million contract with the Chargers in March.

Featured Today

Rimouski, QC - JUNE 1: Final Game of the 2025 Memorial Cup between the Medicine Hats Tigers and the London Knights on June 1, 2025, at the Colisée Financière Sun Life in Rimouski, Qc.

CHL Is Facing a ‘Pandora’s Box’ of Questions Amid NCAA Talent Departure

As players defect to college, the Canadian Hockey League won’t cede ground.
Jun 28, 2025; Arlington, Texas, USA; Seattle Mariners catcher Cal Raleigh (29) bats during the game between the Texas Rangers and the Seattle Mariners at Globe Life Field.
July 9, 2025

The Torpedo Bat Business Is Still Going Strong: ‘Here to Stay’

Demand for the oddly shaped bats has stayed strong across the sport.
July 6, 2025

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

As U.S. team prices climb, investors set their sights abroad.
July 5, 2025

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.
Jonathan Mariner

Former MLB CFO Jumps to PE, Says Teams Are Undervalued

Mariner worked in Major League Baseball for 24 years.
March 20, 2025

Nike Struggles Continue, but Signs of Turnaround Appear

The embattled company beats tepid expectations in both revenue and earnings.
James Harden
April 24, 2025

Adidas Posts Big Profits in First Quarter Without Yeezy

Profits and sales are up after selling off remaining Yeezys last year.
Sponsored

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

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
Oracle Park
March 18, 2025

S.F. Giants Selling Stake to Private Equity to Pay for Facility Upgrades

The team said the cash would not be used to grow payroll.
Aug 11, 2024; Paris, France; Medals are carried out on Louis Vuitton trays after the women's volleyball gold medal match during the Paris 2024 Olympic Summer Games at South Paris Arena
February 16, 2025

LVMH’s New Push: World’s Most Powerful Luxury Group Is Coming for Sports

LVMH is making long-term deals—and they’re not done.
February 14, 2025

DraftKings Turns First Full-Year Profit, Stock Up 47% in 2025

The company’s sports betting business continues to grow despite headwinds.
Billie Jean King
February 13, 2025

Billie Jean King: ‘Billionaires, Not Millionaires’ Are Fueling Women’s Sports Boom

Billie Jean King wants more women involved in team ownership, too.