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SoftBank Fund Reportedly To Invest $1 Bln In Sports E-commerce Startup Fanatics

SoftBank Group Corp. and its Vision Fund are closing a $1 billion investment in online sports retail company Fanatics Inc., part of a sizable bet the startup's licensing agreements with the National Football League and others give it the power to compete with e-commerce giant Amazon.com Inc., the Wall Street Journal reported citing people familiar with the matter.

The investment in the e-commerce company is scheduled to close this month as part of a round of funding that will lift its total valuation to $4.5 billion from $3 billion, the report said. Other investors in this round include the NFL and Major League Baseball, which invested about $95 million and $50 million, respectively, earlier this year.

by RTT Staff Writer

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