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☆ Fanatics valuation hits $31 billion after $700 million investment round
▼ + stars: | 2022-12-06 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Michael Rubin's sports platform company Fanatics has raised $700 million in fresh capital, pushing its value to $31 billion, according to people familiar with the matter. In March, the company raised $1.5 billion led by Fidelity and Blackrock and Michael Dell's MSD Partners. This summer, Fanatics ventured deeper into collegiate sports, signing a long-term deal with Nike to manufacture college sports fan apparel. Rubin now has his eyes on the sports gaming market. Revenue for Fanatics, including its Lids segment, will be approximately $8 billion in 2023, according to company estimates.

The remarks go against expectations in the gaming industry that FanDuel will cede some of its dominance as new players work to grab a bigger share of the sports betting market. Rubin predicts sports betting and Fanatics' other business segments "could be $8 billion, even in the next decade, in profits." And FanDuel boasts a 42% market share, based on published reports by state gaming regulators. Of the 59 sports betting operators in the U.S. in October, only three had double-digit market share. "Almost 90% of the operators have a sub-2% share of the market," Howe said.

The sports platform and e-commerce company, which has been valued at more than $27 billion, said Tuesday it hired Andrea Ellis to be the chief financial officer of its betting and gaming division. Fanatics CEO Michael Rubin said last week the company expects to launch the unit in January. At Fanatics, she will be tasked with scaling the new division and providing strategic and operational leadership, the company said. She'll report to Matt King, Fanatics Betting and Gaming CEO, who previously was CEO at FanDuel. Rubin predicts sports betting and Fanatics' other business segments "could be $8 billion, even in the next decade, in profits."

☆ Amazon's head of sports video is riding the success of 'Thursday Night Football' and setting her sights on deals with the NBA, college sports, and more
▼ + stars: | 2022-10-13 | by ( Colin Salao | ) www.businessinsider.com time to read: +3 min

Amazon's VP of global sports video spoke Wednesday on "The Marchand and Ourand Sports Media Podcast." The exec described how "Thursday Night Football" is attracting a younger demographic to the NFL. She also said Amazon is targeting deals with more "marquee sports partners," like the NBA. Amazon VP of global sports video Marie Donoghue. She mentioned interest in college sports and the NBA, whose current rights deals with Disney and TNT expire after the 2024-25 season.

☆ Sprijin financiar uriaș pentru echipele din NBA, milioane de dolari pentru fiecare formație
▼ + stars: | 2020-12-09 | by ( ) www.jurnal.md time to read: 1 min

Banii provin din cele 900 de milioane pe care liga i-a obţinut din biletele emise de NBA pe piaţa de plasament privat, a adăugat publicaţia americană. Conform aceleiaşi surse, piaţa include în general companii de asigurări şi investitorii instituţionali. Sports Business Journal a mai semnalat că este pentru prima oară când NBA recurge la piaţa plasament privat pentru a finanţa iniţiativele ligii. Acest ajutor financiar va permite echipelor să-şi rezolve problemele cu lichidităţile generate de jocul fără spectatori din cauza pandemiei de Covid-19 şi pentru a putea începe noul sezon pe data de 22 decembrie.

Organizations: Sports Business Journal, NBA Locations: NBA

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