(Bloomberg) — Fanatics Inc. raised $1.5 billion in a funding round that values the sports merchandise and memorabilia company at $27 billion, according to a person with knowledge of the matter.
Investors included Fidelity Management & Research Co. and funds operated by BlackRock Inc. and MSD Capital LP, said the person, who asked not to be named because the transaction was private.
A spokesperson for Fanatics declined to comment. The news was reported earlier by the Wall Street Journal.
Fanatics has been adding new categories as Chief Executive Officer Michael Rubin looks to extend beyond sports merchandise into several new business lines, including trading cards and sports betting.
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