MICHAEL RUBIN’S FANATICS NOW VALUED AT $31 BILLION!

By Mark Donovan

Michael Rubin-owned and Philly area-based Fanatics has become a cash cow.

Even more than it was before it transformed into a digital sports platform from strictly a retail heavyweight.

It has raised around $700 million in common stock, bringing its valuation to $31 billion, Front Office Sports is reporting.

The business expects to bring in $8 billion next year, per sources, across separate companies including merchandise-focused Fanatics Commerce, Fanatics Collectibles — which includes $500 million acquisition Topps — and Fanatics Betting & Gaming, which will launch next year.

Rubin recently sold his 10 percent stake in the Sixers to local businessman David Adelman.

 

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