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

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.