Fanatics Gains Momentum for IPO

Fanatics held its second investor day in less than a year, signaling its progress toward an initial public offering, according to a source familiar with the matter. Over 100 existing and prospective institutional investors, including major firms like Goldman Sachs and Barclays, attended the meeting at the NBA Players Association headquarters in New York. Fanatics reiterated that its IPO timeline remains unchanged. Notably, investors were surprised by a visit from football legend Tom Brady, who spoke about business and leadership and interacted with attendees. The global platform company, known for its official team merchandise, valued at $31 billion, has experienced rapid growth and made notable acquisitions, including Topps and Mitchell & Ness. Fanatics recently expanded into sports betting by acquiring PointsBet's U.S. assets for approximately $150 million.