Fanatics raises $350m in new investment round

14 Aug 2020

By: Sport Industry Group

Fanatics has closed a new $350 million (£267 million) investment round, which sees the company now valued at around $6.2 billion (£4.7 billion).

The latest Series E round, led by Fidelity Management & Research Co. and Thrive Capital, will see the retailer’s total funding raised amounting to around $1.5 billion (£1.1bn) since 2011.

Other investors in the round include Franklin Templeton Investments and Neuberger Berman Group LLC.

The company has licensing agreements with the likes of Chelsea as well as the NFL, selling merchandise in stores within stadiums around the world. It also operates manufacturing facilities to create the products itself.

Despite the fact that sporting seasons around the world have been curtailed or played out behind closed doors, Fanatics online sales have increased, though the company does expect a drop off of around $20 million (£15.3 million) caused by the stadium closures.