Fanatics
- Founded
- 2011-01-01 in Jacksonville, Florida, USA
- Headquarters
- New York, New York, USA
Fanatics is a leading global digital sports platform that revolutionizes how fans interact with the teams, players, and moments they love. Headquartered in New York City, the company was founded in 2011 in Jacksonville, Florida, by serial entrepreneur Michael Rubin. What began as an online retailer of licensed sportswear has evolved into an integrated ecosystem spanning commerce, collectibles, sports betting, live events, content creation, and more. Fanatics owns and operates eight core business divisions: Fanatics Commerce, Fanatics Collectibles, Fanatics Betting & Gaming, Fanatics Fest, Fanatics Markets, Fanatics Advertising, Fanatics Credit Card, and Fanatics Studios. Collectively, these divisions serve over 100 million fans globally, partnering with more than 900 sports properties—including professional leagues, players’ associations, teams, colleges, and retailers—and maintaining relationships with over 6,000 athletes and celebrities. The company also operates over 2,000 retail locations, including all Lids stores. With a workforce exceeding 22,000 employees, Fanatics is committed to relentlessly enhancing the fan experience through innovation, real-time manufacturing, data-driven personalization, and a vertical commerce model. Its aggressive expansion into trading cards (via the acquisition of Topps), sports betting, and exclusive jersey supply deals has positioned Fanatics as a dominant force in the global sports economy.
Detailed Review
History
Fanatics traces its roots to a brick-and-mortar store called Football Fanatics, founded by brothers Alan and Mitchell Trager in Jacksonville in 1995. In 1998, Michael Rubin founded Global Sports Incorporated, which later became GSI Commerce—a multibillion‑dollar e‑commerce company. Rubin sold GSI Commerce to eBay in 2011 for $2.4 billion and simultaneously bought back the sports e‑commerce business, rebranding it as Fanatics, Inc. That transaction marked the beginning of Fanatics as a standalone entity.
From the outset, Rubin pursued a vertical commerce (v‑commerce) model—controlling the entire supply chain from manufacturing to distribution to customer experience. In 2012, Fanatics raised $150 million from Insight Venture Partners and Andreessen Horowitz, and acquired its Florida‑based rival Dreams, Inc. for $158 million in cash plus $25 million in debt, integrating brands like FansEdge and Mounted Memories. In 2014, Doug Mack was appointed CEO (Rubin remained executive chairman) and helped shift the company toward mobile‑first, direct‑to‑consumer operations with its own manufacturing capabilities. After Mack’s departure, Rubin resumed the CEO role and continues to lead the company today.
Business Model & Products
Fanatics’ product ecosystem is vast. Its commerce division sells licensed apparel, jerseys, and fan gear for every major North American sports league—NFL, NBA, MLB, NHL, MLS, and top collegiate programs—as well as for global soccer clubs and international federations. In 2024, Fanatics became the exclusive on‑ice jersey supplier for the NHL. In collectibles, Fanatics acquired Topps in 2022, gaining rights to produce trading cards for MLB, NBA, NFL, and Formula 1, and in 2025 entered into a landmark deal with FIFA to become the exclusive licensor of collectible cards and stickers for World Cup events starting in 2031. The collectibles division alone is projected to generate $5 billion in revenue.
Fanatics Betting & Gaming (FBG) launched its sportsbook and iGaming platform in 2023, operating Fanatics Sportsbook in over a dozen U.S. states. The company also operates Fanatics Markets, a prediction‑market platform; Fanatics Live, a live‑commerce app for trading‑card breaks and creator‑hosted content; Fanatics Fest, a series of large‑scale fan conventions; and Fanatics Studios, which produces premium content and documentaries.
Market Position & Financials
Financial performance has accelerated sharply. According to Sacra, Fanatics generated about $13 billion in revenue in 2025 (up from $8.1 billion in 2024), driven largely by collectibles ($5B) and gaming ($1.6B). The company remains privately held, with major investors including SoftBank, Silver Lake, and Fidelity. Despite its dominance, Fanatics has faced antitrust scrutiny and legal challenges from rivals like Panini. Nevertheless, its continued innovation—such as debut trading cards, real‑time manufacturing, and a massive physical‑retail expansion (including a flagship store on London’s Regent Street)—underscores its ambition to become the world’s definitive sports fan‑engagement platform.
Key Products
Fanatics Commerce
Licensed fan gear, apparel, and lifestyle products sold online and at over 2,000 retail stores (including Lids).
Fanatics Collectibles
Physical and digital trading cards (via Topps) and memorabilia.
Fanatics Betting & Gaming
Regulated sportsbook and iGaming platform available in multiple U.S. states.
Fanatics Live
Live-commerce platform for trading-card breaks, merchandise drops, and creator-hosted content.
Fanatics Fest
Annual live fan event in New York City with athlete appearances, memorabilia, and interactive experiences.
Fanatics Markets
Prediction market and live-commerce platform for sports and other events.
Fanatics Advertising
In-house advertising and sponsorship sales unit.
Fanatics Credit Card
Co-branded credit card for fans (issued in partnership with a financial institution).
Fanatics Studios
Premium sports entertainment content production.
Topps (subsidiary)
Iconic brand for sports trading cards and collectibles (acquired 2021).
Mitchell & Ness (subsidiary)
Vintage and throwback sports apparel (acquired 2022).
Lids / Hat World (subsidiary)
Specialty hat and apparel retail chain (acquired 2018).
Fanatics Events
In-person fan festivals (e.g., Fanatics Fest NYC) and bespoke sports experiences.
Mitchell & Ness
Retro sports apparel and throwback jerseys (subsidiary).
Lids / Hat World
Over 1,200 retail locations specializing in headwear and fan gear (subsidiary).
Offices & Headcount
22000 employees (approx.)
Key Persons
Glenn H. SchiffmanDirector, Executive Vice President & Chief Financial Officer (CFO)
Michael RubinFounder & Chief Executive Officer (CEO)
Andrew Low Ah KeeChief Executive Officer – Fanatics Commerce