Fanatics scored its $18 billion valuation after raising additional funds. In sports betting circles, it's not a question of whether but of when Fanatics will go public. Fanatics wants in on sports media rights, gambling, revamped ticketing models, memorabilia assets, NFTs and now trading cards.Īnd as the deals continue, an IPO awaits. Rubin's company has made no secret that it wants to be a global powerhouse with various offerings throughout the digital world. It's unclear who Fanatics is targeting, but it will eventually need to show its hand on this front as sports betting laws require. Rush Street is traded on the New York Stock Exchange under ticker symbol RSI and has a market cap of $2.6 billion. But sources told CNBC that Fanatics isn't interested in the acquisition. Industry chatter linked Fanatics and online casino operator Rush Street Interactive, which has a sportsbook via its SugarHouse property. If it works, then Fanatics will be able to lure sports bettors to its platform and combine offerings from its merchandise catalog as rewards for consumer loyalty.īut Fanatics will need to purchase an established sportsbook to enter the space. Fanatics is under the impression it can leverage its 80 million user base tied to its sports merchandising company into a sports betting offering. The company made headlines after plans it wants to enter the New York sports betting market emerged. online gambling space through sports betting, sources said. That deal included the Majestic Athletic brand, and it came right after Fanatics took Majestic's MLB apparel rights.įanatics also wants a presence in the estimated $40 billion U.S.
Panini is valued at $1.3 billion, according to PitchBook, and there are other firms, Upper Deck and Texas-based Leaf Trading Cards.Īcquiring the competition would resemble an acquisition Fanatics completed in 2017 when it purchased VF Corp' s licensed sports group for roughly $225 million. Speculation on Wall Street suggests Fanatics will also attempt to buy one of the trading card companies. The company would likely collect transaction fees, and leagues will also get valued data they crave. For example, should collectors purchase a trading card, they'll be able to insure the asset, grade, store and even put them on a marketplace to sell or trade - all through Fanatics.
Leagues do not have equity in their current deals with trading card companies.įanatics' plan for the physical trading card space is to expand it by opening the market to leverage it more via direct-to-consumer offerings, according to people familiar with the matter. To secure the new deals, Fanatics provided equity to leagues and player unions that is guaranteed to bring at least $1 billion in revenue over the duration of the partnerships.
Even Luka Doncic's rookie card set an auction record.Įntering the business of trading cards also aligns with Fanatics' plans to build its name in the NFT collectibles sector through Candy Digital. In 2021, the sector has been especially active, with a 1914 Babe Ruth baseball card setting a record. The sports trading card business is projected to reach $98.7 billion by 2027, according to Verified Market Research. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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