Sky Sports reach agreement following $700 million investment from Chelsea's owners Clearlake Capital.
After Clearlake Capital oversaw a $700 million fundraising round for Fanatics last year and Todd Boehly had a financial stake in the company, the announcement of Chelsea comes as Sky Sports and Fanatics reach an agreement.
Fanatics and Sky Sports have a deal for the establishment of an online store.
Clearlake Capital, a co-owner of Chelsea, has backed Fanatics and was the driving force behind the company's $700 million investment round last year. In the US, Fanatics is most recognised for their gear sales for the NFL, NBA, MLB, and NHL.
Along with selling Premier League merchandise, it just developed a website for the UK as soccer continues to gain popularity in the US. The company is thought to be valued an astounding $31 billion and has its UK headquarters in Manchester.
In December, Clearlake led a $700 million capital round that also included investment firms Lion Tree, Silver Lake, Fidelity, and Softbank. Fidelity and MSD Partners, the latter of which has ties to technology tycoon Michael Dell, led the $1.5 billion fundraising effort for Fanatics in March of last year.
Sky and Fanatics teamed up to develop a website for sports fans to purchase memorabilia, it was revealed last week. "This launch marks a significant milestone for Sky, Fanatics, and sports fans more generally because it will bridge the gap between fans watching sports and wanting to gain access to products, through which they can instantly show their allegiance to their favourite team kits and colours," said Matthew Primack, a Fanatics executive.
Additionally, rapper Jay-Z owns stock in Fanatics through his Roc Nation organisation. Eldridge, run by Chelsea co-owner Todd Boehly, is another investor in the company. According to rumours, Fanatics plans to use the December investment round for mergers and acquisitions.
In contrast, fans sell around 400 different items of Chelsea memorabilia and in 2018 they signed a contract with the team to run its online store and megastore at Stamford Bridge.
