May 25, 2022

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Fanatics reach $27 billion in new funding, adds BlackRock, Michael Dell

Fanatics reach $27 billion in new funding, adds BlackRock, Michael Dell

Fanatics founder/CEO Michael Rubin attended the Fanatics Super Bowl party at the College Football Hall of Fame on February 2, 2019 in Atlanta, Georgia.

Mike Coppola | Getty Images

Michael Rubin fanatics have raised $1.5 billion in a new funding round that values ​​the sports platform company at $27 billion. The company was The last one is worth $18 billion Less than a year ago.

The latest funding round includes new investors Fidelity, BlackRock, and MSD partners of Michael Dell, as well as existing investors. investment It was first reported by The Wall Street Journal. A source familiar with the deal confirmed the details to CNBC.

A fanatical representative declined to comment.

Rubin, co-owner of the Philadelphia 76ers and New Jersey Devils, started Jacksonville, Florida in 2011. That same year, he sold his sports e-commerce business to eBay for $2.4 billion, buying parts and being acquired by fanatics — which at the time was an operation. Retail from two stores. Fanatics now have exclusive licensing deals with the NFL, NHL, NBA, Major League Baseball, and dozens of colleges and universities to make and sell jerseys, hats, and tons of other official team merchandise.

Earlier this year, the company I got Topps trading cards for $500 million. The Fanatics Trading Card entity is now worth $10 billion after a $350 million funding round last September. Robin described Topps as a premium brand in a statement announcing the move.

Fanatics is CNBC Disruptor 50 twice. Participation For our original weekly newsletter beyond the annual Disruptor 50 list, providing a close look at private companies like the fanatics, and founders like Robin who continue to innovate in every sector of the economy.