Major leagues, players associations, and team owners are pouring money into Fanatics as part of the digital sports platform’s $1.5 billion funding round at a $27 billion valuation.

The round, initially announced in March, was led by the NFL, which invested $320 million in fresh capital, a Fanatics representative confirmed to Front Office Sports.

Also participating were:

• NFL Players Association
• Major League Baseball and its owners
• MLB Players Association
• National Hockey League
• Brooklyn Nets owner Joseph Tsai’s Blue Pool Capital
• Paris Saint-Germain owner Qatar Investment Authority

Leagues, players associations, and team owners now own around 10% of the company. The round also included BlackRock, Fidelity, and MSD Capital.

Fanatics said it will collect over $5 billion in revenue this year.

New Verticals

Initially growing as a team-branded merchandise platform, Fanatics has rapidly expanded into other areas including trading cards, where it now holds licensing deals with MLB, MLBPA, NBA, NBPA, and the NFLPA.

It gained licensing rights to MLS, Bundesliga, Formula 1, and UEFA when it purchased Topps for $500 million in January.

The company is also making forays into sports betting and iGaming, and owns NFT company Candy Digital and half of apparel retailer Lids.

A historic free-agent class reshuffled the list of Major League Baseball’s top earners.

Max Scherzer topped Forbes’ annual list with $59.3 million in total earnings. Mad Max set the MLB record for highest average annual value ($43.3M) on his three-year, $130 million deal with the New York Mets. 

Scherzer will also receive $15 million each year through 2028 from his contract with the Washington Nationals, signed before the 2015 season.

• Mike Trout of the Los Angeles Angels ranked second with $39 million in earnings. Trout holds the record for the sport’s largest overall contract with his 12-year, $426.5 million deal. 
• Corey Seager — who will make $37.5 million in the first year of his 10-year, $325 million deal with the Texas Rangers, plus an additional $1 million off the field — is third.

Salaries and Little More

MLB players earn relatively little off the field compared to stars of other sports. Bryce Harper, ninth in total earnings with $32.5 million, is set to bring in $6.5 million in endorsement deals that include Under Armour, Gatorade, and Dairy Queen.

Kansas City Chiefs quarterback Patrick Mahomes, by comparison, earned $22 million off the field last year.

Shohei Ohtani was the top off-field earner last year with $6 million. Ohtani, who has yet to taste free agency, will make $4.3 million from his salary with the Angels.

On the heels of surpassing 1 million Oura rings sold, the smartring maker announced that it has raised capital at a $2.55 billion valuation.

The additional funding will be used for research and development, product and science innovation, and personalized and guided content. Lifeline Ventures, Forerunner Ventures, and MSD Capital have all participated in the company’s funding rounds.

In May 2021 — nearly a year after the NBA purchased Oura rings for players in the Bubble — the company had sold just over 500,000 rings, and Oura’s total funds sat at $148.3 million.

• The boost in sales comes after Oura launched its $300 Gen3 model and a $5.99 monthly subscription offering in October.
• Oura says it’s sold more third-generation models than all previous versions combined.
• The app has also seen more engagement than in previous versions.

Wearables Win

While Oura focuses on rings, a number of high-profile companies are also capitalizing on the growing global wearable technology market — estimated to reach $118.16 billion come 2028.

In October, Amazon launched the Halo View, a wearable device similar to the Apple Watch — Apple Insider says the company holds a 30.1% share of the smartwatch market. Last year, Google finalized its $2.1 billion acquisition of Fitbit, and Peloton acquired Atlas Wearables for an undisclosed amount.

WHOOP, another growing wearables brand, signed a deal with USA Cycling this week.

UEFA has signed Topps as its official championship licensing partner for the creation of collectibles, stickers, and trading cards, the company announced on Wednesday.

Topps, which was acquired by Fanatics in January for $500 million, will take Panini’s exclusive place as UEFA’s partner. Fanatics already runs all the “major” UEFA tournament shops.

• The deal will include EURO 2024 and EURO 2028, as well as other prominent events like the Women’s EURO 2025 and Nations League Finals.
• Topps has signed José Mourinho to choose which players make it onto Topps collections

Topps GM of International Sports and Entertainment Mark Catlin called the partnership a “huge step” for the company. 

“The European Championship is the biggest and most prestigious football event on a national level in Europe, recognised globally,” he said. 

Looming Controversy

In the background of UEFA’s business moves are the legal dealings of the governing body’s former president, Michel Platini. On Nov. 17, Platini filed a criminal complaint in France against FIFA president Gianni Infantino on Nov. 17 accusing him of “peddling influence.”

The case is reportedly about a payment to Platini of $2 million from 2011. Platini and former FIFA president Sepp Blatter will stand trial later this year in Switzerland.