Fanatics and competitor Panini launch legal battle with a pair of lawsuits
Summary
Track President Brandon Igdalsky addresses the media and fans as NASCAR debuts the new FANATICS fan shopping experience at Pocono Raceway on Friday morning prior to the weekends events for the running of the Windows 10 400 in Long Pond, PA. Sports platform Fanatics and competitor Panini have in recent days become enmeshed in a legal battle, with a pair of lawsuits between the trading card rivals. Last week, Panini filed an antitrust lawsuit against Fanatics alleging that it had engaged in "calculated, intentional, anticompetitive conduct" to establish a monopoly in the trading card industry. Fanatics, in its countersuit, denied antitrust behavior and said it won the rights because of a superior offer and because Panini had "failed to capitalize on its opportunities." Fanatics, which started as an e-commerce platform in 2011, has quickly grown to hold exclusive merchandise rights spanning from the NFL and NBA to the International Olympic Committee. The companys specific trading card business was valued at $10.4 billion in September 2021 after a $350 million Series A round that included Silver Lake, Endeavor Group holdings and private equity firm Insight Partners, according to multiple media reports.