An e-commerce and merchandising company that manufactures and sells officially licensed sports apparel, memorabilia, and trading cards for teams and leagues worldwide.
Named as a constituent of Forge Accuidity Private Market Index — a fact about the index, not an endorsement.
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Funding roundsSecondary market price
CEO Michael Rubin says 'no rush' to IPO (June 2025); Sacra estimates ~$13B 2025 revenue (up from $8.1B in 2024). Valuation has moved both ways since the 2022 peak: a Sept 2024 employee tender priced the company at a discounted $25B, before Fidelity's Nov 2025 fund holdings implied a recovery to ~$33.5B. No new priced primary round since Dec 2022 — both moves are secondary/fund-NAV estimates, treat current_estimate with caution.
Low: Tracxn, Aug 2026. High: Revelio Labs, Mar 2026.
As of 2026-09-13 · live via greenhouse's public job board · ≈0.1% of the 14,653–23,614 estimated team
+1 more roles across 1 other teams.
See all open roles at Fanatics →| Round | Date | Valuation | Lead |
|---|---|---|---|
| Private Equity Round 3 | 2022-12-05 | $31.0B+15% | Clearlake Capital Group (LionTree a significant new co-investor; ~60% of the round was new money) |
| Private Equity Round (Digital Sports Platform) | 2022-04-06 | $27.0B+50% | Genuinely undisclosed -- no press source names a formal lead; the NFL was the single-largest contributor (~$320M) but as a strategic league investor, not a conventional lead. BlackRock and Michael Dell/MSD Capital joined as new investors |
| Private Equity Round 2 | 2021-08-10 | $18.0B+41% | No single lead cleanly disclosed -- SoftBank's Vision Fund and Silver Lake (both existing backers) are the primary continuing investors; new participants (Jay-Z/Roc Nation, Insight Partners, Eldridge, TWG Sports Media & Entertainment, MLB) not identified as lead |
| Private Equity Round 1 | 2021-03-01 | $12.8B+106% | Silver Lake (Fidelity, Franklin Templeton, Neuberger Berman, Thrive Capital, MLB also participated) |
| Series E | 2020-08-01 | $6.2B+38% | Co-led by Thrive Capital and Fidelity Management & Research Co. (Franklin Templeton, Neuberger Berman also participated; oversubscribed, targeted $250M, closed at $350M) |
| SoftBank Vision Fund Round | 2017-09-01 | $4.5B+45% | SoftBank Group's Vision Fund (NFL and MLB participated but did not lead) |
| Series B | 2015-08-25 | $3.1B+107% | Silver Lake (its first investment in Fanatics) |
| Growth Equity | 2012-06-06 | $1.5B | Insight Venture Partners (~$125M of the $150M equity tranche; Andreessen Horowitz participated with ~$25M but did not lead) |
No upcoming rounds currently reported.
| Status | S-1 Not Filed |
|---|---|
| Notes | CEO Michael Rubin's June 2025 'no rush' framing still stands as of his July 2026 appearance. 2026 press frames an IPO as increasingly likely given PE-backer (Clearlake, Silver Lake, LionTree) liquidity pressure, but that's speculation about motive, not a confirmed process. |
| Source | CNBC, Jun 2025; Sportico, Jan 23 2026; CNBC, Jul 18 2026 |
Polymarket/Kalshi rows are live market-implied odds, not a PrePost prediction; everything else is a cited news signal. PrePost doesn't publish its own IPO forecast.