YAHOO! SPORTS: Fanatics Launching Division with Investment from IMG

Fanatics is launching a new events vertical, in partnership with IMG, to capitalize on the company’s growing suite of business ventures, including merchandise, memorabilia, fashion, music, trading cards and sports betting.

Starting next year, Fanatics Events will create fan festivals that feature athletes and brands from across the industry, including those in the Fanatics orbit. The vision is have ticketed events that resemble Comic Con or the NFL Experience held annually at the Super Bowl. Fanatics has hired Lance Fensterman, former president of pop culture event business ReedPop, to be CEO of the new venture.

The business will be majority owned by Fanatics, with Endeavor’s IMG taking a “significant” minority stake, according a statement. Specifics around the equity shares, other backers and the valuation were not released. Fanatics Events will build out its portfolio through “acquisitions, joint ventures and new event launches,” the company said…