Fanatics Plans $50M New York Expansion Creating 300 Jobs

anatics will expand operations in New York following an announcement from Governor Kathy Hochul confirming a major investment tied to hiring and office growth in Manhattan.

Good to Know

• Fanatics plans to invest more than $50 million into expanded facilities.
• About 300 new roles are expected across technology, product, corporate, and operations teams.
• Project will receive up to $5 million in performance based tax credits through the Excelsior Jobs Program.

Expansion adds 95,000 square feet to the existing location at 95 Morton Street, effectively doubling the current footprint. Around 650 employees already work in New York, with additional hiring designed to support scaling across multiple divisions.

Governor Hochul framed the development as part of a broader economic strategy focused on attracting high growth sectors. She said:

“By supporting [Fanatics] significant investment and the creation of 300 new good-paying jobs, we are reinforcing New York City role as a global hub for technology, digital commerce, and creative industries and ensuring that the jobs of tomorrow are created right here at home.”

Empire State Development will support the project through incentives tied directly to job creation benchmarks, aligning public funding with measurable employment outcomes.

Fanatics leadership continues to view New York as central to global operations. Chief Financial Officer Glenn H. Schiffman said:

“New York City plays an important role in growing our global platform by offering unmatched access to talent and connections across sports and entertainment.”

Growth in physical space mirrors broader ambitions outlined by Chief Executive Michael Rubin, who has said the company could reach $50 billion in annual revenue within five to ten years. Remarks delivered during the National Retail Federation Big Show also indicated interest in expanding into prediction markets and financial services, areas increasingly intersecting with sports, media, and fintech ecosystems.

Licensed merchandise remains the largest revenue driver at roughly $7 billion, followed by collectibles and trading cards generating about $4 billion. Sports betting and gaming contribute close to $2 billion, where heavy investment continues as Fanatics builds technology and market share to compete with DraftKings and FanDuel. Segment has not yet reached profitability.

United States operations still account for the majority of revenue, while international contribution remains relatively small at around $1 million. Leadership views overseas growth as an opportunity, highlighted by the opening of a London trading card store and plans for further global rollout.

Rubin also addressed ownership strategy, noting no immediate plans for an initial public offering despite an estimated $13 billion valuation, signaling preference for long term private scaling over short term market listing.