Fanatics set to revolutionize the events industry with new live events venture

Fanatics is set to revolutionize the sports collectibles market by launching Fanatics Events, a live events business that aims to recreate the immersive experience of Comic-Con.

Partnering with IMG, a leading events and talent management company owned by Endeavor, Fanatics will be the majority owner of the new venture.

Fanatics, known for its e-commerce platform, is diversifying its business ahead of its planned IPO. The company recently held its second investor day in less than a year with major firms like Goldman Sachs and Barclays attending.

In another move to expand its offerings, Fanatics is acquiring PointsBet’s U.S. operations to enter the sports betting market. The company raised its initial $150 million bid to $225 million, surpassing DraftKings’ offer of $195 million.

Fanatics Events will focus on organizing global events through strategic partnerships and acquisitions. Its initial priority will be the collectibles sector, with plans to expand and innovate in other areas in the future.

The launch of Fanatics Events next year aims to provide fans and collectors with a unique and comprehensive experience that combines sports, collectibles, fashion, music, and entertainment, according to Lance Fensterman, CEO of Fanatics Events.

Fensterman, who previously oversaw pop culture conventions at ReedPop, including the renowned New York Comic Con, will bring his expertise to Fanatics Events.

Paul Caine, president of On Location and IMG Events, said Fanatics Events will benefit from the extensive resources and expertise of Endeavor to create unforgettable moments for fans.

-CNBC’s Jessica Golden contributed to this report.