- September 30, 2021
- Posted by: Stratford Team
- Category: Business
- Funding round comes after Fanatics struck trading card deals with MLB, MLBPA, NBA, NBPA and NFLPA
- Merch firm holds controlling 80% stake in Fanatics Trading Cards, but is also handing equity to leagues and players associations
- Florida-headquartered company also looking to expand into sports betting and other areas
The new trading card business set up by sports merchandise giant Fanatics has raised US$350 million in a Series A funding round, sources familiar with the situation have confirmed to SportsPro.
Sources said that the new investment, which was first reported by the Wall Street Journal, gives the new company, called Fanatics Trading Cards, a valuation of US$10.4 billion.
It is understood that investors in the round were private equity firms Silver Lake and Insight Partners, as well as Endeavor, the sports and entertainment giant that owns the Ultimate…