Fanatics, based in Jacksonville, Fla., was founded in 2002 by brothers Michael Trager and Alan Trager. Michael Rubin is the company’s chairman and CEO. The company, which was last valued at $31 billion in December 2022, is a global digital sports platform for purchasing team apparel, jerseys, headwear and hardgoods. Merchandise can be accessed online, via mobile, in flagship stores, in stadiums, and on-site at the world's biggest sporting events.
In January 2022, Fanatics purchased the Topps trading card business for a reported $500 million. And in December, The Wall Street Journal reported that Fanatics had raised an additional $700 million in funds from a group of backers including private-equity firm Clearlake Capital Group and investment firm LionTree. Much of the funding will reportedly be used to finance additional takeovers.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.