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For its part, the NFLPA isn\u2019t a stranger to investing, either. In October, the union took a stake in daily fantasy sports (DFS) operator Monkey Knife Fight (MKF). That proved to be a shrewd move because Bally\u2019s (NYSE:BALY) acquired MKF just three months later. The NFLPA and Major League Baseball Players Association (MLBPA) and other investors formed OneTeam Partners, which identifies investment opportunities for the unions.<\/p>\n<\/div>\n
The NFL and MLB are long-standing Fanatics investors, as those leagues initially invested in the firm in 2017. Today, leagues, players\u2019 unions, and team owners control about 10% of Rubin\u2019s company, according to CNBC.<\/p>\n
Fanatics Gaming, IPO Speculation<\/h2>\n The traditional avenue for investors to monetize stakes in private companies is for the firm in question to commence an initial public offering (IPO). While there\u2019s ample speculation about Fanatics and an IPO by the company is highly anticipated, Rubin hasn\u2019t publicly commented on the matter.<\/p>\n
The company also has gaming ambitions, which are also proving slow-moving. Last year, the firm filed several patent applications with the US Patent and Trademark Office (USPTO) for a branded casino, mobile betting app, and sportsbook. Before that, the Florida-based company announced the hiring<\/a> of former FanDuel CEO Matt King.<\/p>\nFlorida-based Fanatics has also been tied to acquisition rumors involving multiple sports betting operators. But the company has yet to strike a deal.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Fanatics\u2019 private market valuation soared to $27 billion last month. That’s following a $1.5 billion funding round in which the NFL was the biggest investor. When news of the $27 billion valuation for the privately held company emerged in early March, existing investors and BlackRock, Fidelity, and MSD Partners \u2014 an investment vehicle controlled by […]<\/p>\n","protected":false},"author":46,"featured_media":208530,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810],"tags":[],"acf":[],"yoast_head":"\n
NFL Has Biggest Slice Of Fanatics Latest Funding Round<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n