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Fanatics Inc., a US-based manufacturer and online retailer of licensed sportswear, sports collectibles, trading cards, sports merchandise, and non-fungible tokens (NFTs), revealed its plans to launch its own live events division as it seeks to set up a sports version of the well-known Comic-Con convention.
Fanatics said that its new live events business will recreate the Comic-Con experience but rather than comic books, everything will be about sports. The company is teaming up with IMG talent management company for this venture. As part of the deal, IMG will invest in the project.
According to CNBC, while the management firm is set to put money into the new events business, Fanatics will be the majority owner of the unit. It was noted that the company has been seeking to diversify its business as it aims for an initial public offering as well.
The online retailer will introduce “Fanatics Events” which the company will use as a platform for organizing global events via collaborations and acquisition deals. The company said it will focus on the collectibles business first and then explore other opportunities to expand and innovate later on.
Fanatics is planning to start holding events through its Fanatics Events division next year. Sportico reported that in 2024, Fanatics Events will stage fan festivals that will feature sports brands and athletes from across the industry. The new venture will be mostly owned by Fanatics but Endeavor’s IMG will also hold a considerable minority share in Fanatics Events.
“The launch of our new Fanatics Events business provides an opportunity to celebrate all aspects of fandom — including sports, collectibles, memorabilia, fashion, music and entertainment — under one physical roof in a way that has never been done before,” Fanatics Events chief executive officer, Lance Fensterman, said in a statement. “These new touchpoints will reinforce our commitment to enhancing the overall experience for fans and collectors globally.”
Photo by: Box Folder/Fanatics Media Room
