Fanatics expands sports collectibles empire with FIFA licensing deal

Fanatics just tightened its grip on the sports-collectibles business again, striking a long-term exclusive licensing deal with FIFA that will put it in control of trading cards, stickers, trading card games and both physical and digital collectibles in full starting in 2031. The agreement is set to push Panini out of FIFA’s top collectibles seat, extending Fanatics’ reach deeper into a market Morgan Stanley has estimated at about $100 billion.

The FIFA deal fits a larger strategy that goes far beyond cards. Fanatics already holds major licensing power across the NFL, NBA and MLB, and the company has been building a vertically integrated operation that stretches from league licenses to retail stores to scarcity-driven product design. That model gives Fanatics more control over what gets made, how it is distributed and which products become the most desirable in the secondary market.

One of Fanatics’ sharpest innovations has been the debut-patch concept first rolled out with MLB. MLB Debut Patches were unveiled on March 30, 2023, as the first memorabilia made with a professional sports league specifically for trading cards. The idea gave a rookie’s first game jersey a built-in collectible hook, turning one-time moments into one-of-one cards that could command large resale premiums. Similar patch programs later expanded into the NBA in 2025-26 and into Formula 1, reinforcing a business built around scarcity and scarcity’s price power. One-of-one debut cards have sold for thousands of dollars on resale platforms such as eBay.

Fanatics has also been pushing into brick-and-mortar retail to control more of the collectible experience. Its first flagship store opened on Regent Street in London in spring 2025, with Fanatics saying the shop would feature Topps, Merlin, Match Attax and Bowman brands alongside education, card-opening and singles-trading areas. The physical store extends a business that has increasingly blended digital demand with in-person collecting.

The company’s rise has not gone uncontested. Panini’s antitrust case against Fanatics was allowed to proceed in March 2025, while a separate consumer antitrust suit was dismissed in March 2026. Those legal fights underscore how aggressively Fanatics has consolidated licensing power across the hobby, leaving fewer major rights available to rivals.

FIFA president Gianni Infantino said in a statement on May 7 that Fanatics is driving “massive innovation in sports collectibles” and creating new ways for fans to engage with teams and players. For Fanatics, the FIFA agreement is more than another license. It is another step toward owning the infrastructure of modern sports memorabilia, from the first card printed to the price it fetches after the final whistle.