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Jax Daily Record Thursday, Apr. 7, 202210:02 AM EST

Report: Fanatics investors include NFL, other sports leagues

The company with Orange Park roots recently raised $1.5 billion with speculation it will launch an IPO.  
by: Mark Basch Contributing Writer

Fanatics Inc.’s latest financing round included a $320 million investment by the NFL and additional capital from other major sports organizations, according to an April 6 report by CNBC.

Major League Baseball and the National Hockey League, as well as baseball and football players' associations, also invested, it said.

The investments were part of a $1.5 billion capital infusion first reported a month ago by The Wall Street Journal, which said the company started with a single retail store in the Orange Park Mall in 1995, is now worth $27 billion.

Fanatics is now a subsidiary of Philadelphia-based Kynetic, which acquired it from founders Alan and Mitchell Trager in 2011. However, the company maintains its commerce headquarters in Jacksonville.

The company has been raising large amounts of capital over the past year as it expands into other sports-related businesses beyond its core online sports apparel division.

Wall Street has been speculating that Fanatics will eventually launch an initial public offering.

CNBC said a company representative had no update on the timeline for a possible IPO.

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