Fanatics has raised $1.5bn 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’s private investment firm MSD Capital, the sources said.
The company was valued at $18 billion in August, when it raised $325 million from investors including SoftBank Group Corp’s Vision Fund.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
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 and other celebrities, acquired 118-year-old Mitchell & Ness, known for its jersey replicas and streetwear.
The deal came more than a month after Fanatics purchased the trading cards and collectibles business from Topps.
Source: Reuters
Can’t stop reading? Read more
Fund Friday: Top fundraising news in private equity
Fund Friday: Top fundraising news in private equity JPMorgan Chase has taken a major step toward...
Lunate commits $1bn to HPS private markets platform in latest Abu Dhabi-backed expansion
Lunate commits $1bn to HPS private markets platform in latest Abu Dhabi-backed expansion Abu...
Vodafone buys Waterland’s Skaylink for $204m to expand European cloud services
Vodafone buys Waterland’s Skaylink for $204m to expand European cloud services Vodafone has agreed...