Fanatics’ Latest Acquisition – Front Office Sports

Fanatics is pushing into collectors’ auctions with a major acquisition.

The multifaceted sports company is buying PWCC, it confirmed to Front Office Sports. Terms were not disclosed. The acquisition strengthens Fanatics’ presence in the collectibles space after the company bought Topps in January 2022 for a reported $500 million.

PWCC offers Fanatics Collectibles technology, a collectibles vault and an established marketplace after bringing all of its technology operations in-house following a dispute with eBay. The old auction platform removed its items in December 2021 amid allegations that it had pressured it to raise prices – which PWCC vehemently denied.

While Fanatics owns trading card rights in several leagues and player associations — including the MLB, MLBPA, NBA, NBPA, and NFLPA — it hasn’t been as strong in the auction space. It can now compete with Heritage Auctions and Goldin, the subject of the Netflix show King of Collectibles: The Goldin Touch.

“I think Fanatics will have the biggest impact on the sports collectibles business,” Goldin founder and CEO Ken Goldin said on Front Office Sports Today earlier this month.

Earlier this month, Fanatics made another high-profile acquisition, expanding its sports betting division by buying PointsBet for $125 million. The company is working on creating a media division called Fanatics Live.

Mercedes looks to the future to restore its past.

The once-dominant team in Formula One is behind rival Red Bull on the grid but is investing $87 million in its facility and staff in Brackley, England, in hopes of giving it a long-term advantage.

The team aims to attract top talent by looking beyond Formula 1 standards.

“We don’t align ourselves with our competitors in our sport,” Mercedes boss and CEO Toto Wolff told Motorsport.com. “We orientate ourselves on the best technology campuses that we know from the USA.”

The changes to the facility – which Mercedes has been using since 2017 and bought last year – include office buildings, restaurants and gyms. The facility will use 100% renewable energy and aims to reduce water consumption per person per day by 50% and reduce office waste by 60%.

Wolff wants a facility where people love to work, especially given F1’s $135 million cost ceiling, which calls into question the efficiency of the team once known for lavish spending: “We need the best Attract and keep people.” We saw with the cost cap that sometimes we have limited ability to pay people the same as any other industry.”

Red Bull boss Christian Horner said last month that he believes six F1 teams breached the cost cap last year.

There is another planned “super league” in football that will bring a significant financial boost – this time in Africa, courtesy of Saudi Arabia.

The Guardian reports that the Confederation of African Football is negotiating a $200m deal with Saudi Arabia to support the new African Super League, a move that would theoretically also help the country secure hosting rights for a future FIFA win the world championship.

The African tournament somewhat mirrors the themes of the previous, ill-fated Super League proposal in Europe, and will see $100m in prize money, including $11.6m for the winner – more than fivefold the main prize of the current CAF Champions League.

CAF and FIFA announced plans for an African Super League last year. However, that effort is now set to begin with the 2024-25 season – coinciding with the start of Saudi sponsorship – in a reduced eight-team format.

The Saudi commitment also builds on a recent five-year cooperation and development agreement between the CAF and the Saudi Arabian Football Foundation. CAF has been aiming for a more solid financial footing since ending a $1 billion rights deal with Lagardére in 2019.

The initiative also marks the latest attempt by Saudi Arabia – a country widely criticized in international circles for its poor human rights record – to use sport as a way to boost its international profile.

The sovereign wealth fund of Saudi Arabia is the main financier of LIV Golf, another high-profile investment that has sparked controversy and debate.

Tom Brady has agreed to take a minority stake in the Las Vegas Raiders, his second investment in a Mark Davis team. The legendary quarterback bought a stake in the WNBA’s Las Vegas Aces in March.

Brady’s deal with the Raiders has been submitted to the NFL for approval, after to Albert Breer of Sports Illustrated. The ownership transaction is not expected to affect Brady’s $375 million, 10-year deal with Fox Sports to air NFL games beginning in 2024.

Reports of Brady and the Raiders’ ownership negotiations surfaced on ESPN two weeks ago. In 2020, there were rumors that the Raiders were interested in signing Brady as the team’s quarterback before he joined the Tampa Bay Buccaneers for the final three seasons of his playing career.

According to Forbes, the Raiders were worth $5.1 billion last year. In addition to the Raiders and Aces, Brady’s ownership portfolio includes an interest in a Major League pickleball expansion franchise that is expected to start playing this year.

Brady’s other business ventures include his NFT startup Autograph, which raised $170 million in 2022. He also has his own apparel company called Brady Brand and is a co-founder of sports media production company Religion of Sports.

The seven-time Super Bowl champion was also a major shareholder and ambassador of FTX, the cryptocurrency exchange that filed for bankruptcy last year.