Fanatics founder and CEO Michael Rubin in his office in New York.
The Washington Post | Getty Images
Fanatics held its second investor day in nearly a year as the company quietly moved closer to an initial public offering, a source familiar with the matter told CNBC.
More than 100 existing and potential institutional investors from major companies such as Goldman Sachs and Barclays gathered at a meeting Tuesday at the NBA Players Association headquarters in New York to hear from Fanatics founder and CEO Michael Rubin, a source said. Another 300 people attended the meeting virtually on Zoom.
Leaders from all parts of the business gave presentations and participated in a Q&A session with the audience.
A spokesperson for Fanatics said the company’s IPO timeline has not changed.
Investors were also treated to a surprise visit from football great Tom Brady, an investor in the company.
Brady spoke to investors about business and leadership and connected with the audience.
Florida-based Fanatics was founded in 2011 by Rubin, a former co-owner of the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils. Fanatics now has exclusive licensing agreements with the NFL, NHL, NBA, MLB and colleges and universities to produce and sell official team merchandise.
Last November, Rubin sell-side analysts gathered for a meet and greet and to talk about their growth plans for the company.
Fanatics, a global platform company, is worth $31 billion. It has seen rapid growth and has made several acquisitions in the past few years, including Topps trading cards and clothing brand Mitchell & Ness.
The company has recently focused on sports betting, scooping PointsBet property in the US in May for about $150 million.
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