Key Takeaways
Fanatics is expanding its digital sports platform into financial services, announcing a new credit card with American Express aimed at its 100 million fans and a loyalty program with over 30 million members.
"The credit card will be another tool for sports fans that doesn't really exist today, giving them rewards across all they do from a fandom point of view," said Tucker Kain, Fanatics chief strategy and growth officer.
The card, set to launch later this year, will run on the American Express network but will be issued by First Electronic Bank and managed by Imprint, a departure from co-branded cards like those from Delta and Marriott that Amex issues directly. Cardholders will earn FanCash, a digital currency redeemable for merchandise and experiences. Fanatics expects to issue over $1 billion in FanCash this year with a 97% redemption rate.
The move deepens Fanatics' integration of its commerce, collectibles, and gaming businesses, which are projected to generate nearly $14 billion in revenue this year. For American Express, it provides a direct channel to a massive sports-focused consumer base, replacing rival Visa as the NFL's official payments partner.
The new card is a key component of Fanatics' strategy to create a comprehensive digital ecosystem for sports fans. The company's loyalty program, Fanatics ONE, already has more than 30 million users who earn FanCash across its various business lines, including merchandise, trading cards, and even its online sportsbook and casino operations. In states like Michigan, for example, every bet and casino spin earns FanCash that can be used to buy team apparel, creating a unique feedback loop between gaming and retail that no competitor currently offers.
This expansion is happening as the company reports significant top-line growth. CEO Michael Rubin stated that Fanatics is on track for nearly $14 billion in revenue this year, a substantial increase from the $8 billion reported in 2024. The company's collectibles business, bolstered by the 2022 acquisition of Topps, is projected to account for about $5 billion of that total.
For American Express, the partnership is a strategic move to capture a dedicated and high-spending demographic. According to Elizabeth Rutledge, chief marketing officer at American Express, nearly 80% of their card members identify as sports fans. The deal makes Amex the official payments partner at select Fanatics locations and a sponsor of Fanatics Fest.
"Our card members love sports … this partnership just really deepens that footprint," Rutledge said, noting that Amex now has partnerships with over 50 leagues and teams. The company will also allow its U.S. Membership Rewards members to convert their points into FanCash, further integrating the two loyalty programs.
This article is for informational purposes only and does not constitute investment advice.
