Fanatics’ latest raise shows there is tremendous value in appealing to sports fans.
The Jacksonville, Florida-based company confirmed today that it has raised $1.5 billion in funding at a $27 billion valuation, which marks a 50% increase from a valuation of $18 billion at the time of its previous raise last August.
Notably, the NFL was the “single biggest investor” in the latest round, with a $320 million contribution, according to the company. More than half of the investment came from “strategic partners,” including leagues, players associations and team owners, Fanatics added.
Those included Major League Baseball (MLB) and its owners, the Major League Baseball Players Association (MLBPA), the NFL Players Association (NFLPA), the National Hockey League, Brooklyn Nets owner Joe Tsai via his fund Blue Pool Capital and the Qatar Investment Authority.