Value Of Fanatics Hits $6.2 Billion After Company Closes Latest Investment Round
August 14, 2020
Fanatics Inc. has closed the most recent investment round in the company at $350 Million, taking the overall value of the company to $6.2 billion, says the Wall Street Journal.
In recent years Fanatics has grown its business well beyond that of just partnering with the major sports leagues in the United States, something which started with a deal between the company, then GSI Commerce, and NASCAR.
By 2007 they had e-commerce deals with all four major sports leagues in the United States and since acquiring Fanatics in 2011 the organisation has continued its rise within the world of sports merchandise.
The company are expected to file for an initial public offering, with this Series E round projected to be the final part of private funding ahead of the IPO, states WSJ.
Despite the coronavirus pandemic affecting many businesses, an area which has been less impacted has been e-commerce with many continuing to spend online when they could not go out and spend disposable income in other areas.
It remains to be seen how the incoming financial crisis will affect the sports merchandise market, however funding such as this indicates many are bullish that Fanatics will not see any dramatic downturn. A key benefit is the long-term deals they have in place with a number of league’s and teams.
In the past couple of months Fanatics have continued to add to their vast array of partners, announcing 10-year partnerships with the New England Patriots and Paris Saint-Germain, as well as deals with Tepper Sports and Entertainment (the Carolina Panthers Ownership group), David Beckham’s Inter Miami CF and number one NFL draft-pick in 2020, Joe Burrow.
