Fanatics hits $27B value with $1.5B fundraise

Investors including Fidelity Management & Research, funds managed by BlackRock and MSD Capital have invested $1.5 billion in sports merchandise company Fanatics at a $27 billion valuation, according to reports. Fanatics was recently valued at $18 billion in August, following a $325 million round from existing backers including Major League Baseball, SoftBank's Vision Fund and Silver Lake.