Sports platform Fanatics valued at $27 bln in new funding round
By
Reuters
Reuters
Fanatics has raised $1.5 billion in new financing, which now values the U.S. sports platform at $27 billion, sources familiar with the matter said on Wednesday.
Some of the investors in the latest round include BlackRock, Fidelity and Michael Dell
The company was valued at $18 billion in August, when it raised $325 million from investors including SoftBank Group Corp’s Vision Fund.
Fanatics is attempting to leverage its fan base to build a sports commerce powerhouse that operates gaming, sports betting and media business units on top of its retail operations.
Fanatics said in February the company, along with American rapper Jay-Z
The deal came more than a month after Fanatics purchased the trading cards and collectibles business from Topps.
