Sports Illustrated Tickets, a primary and secondary ticketing marketplace, secured a $50 million credit facility led by Eagle Point Credit Management with Feenix Venture Partners.
The credit facility is designed to fuel several strategic priorities for Sports Illustrated Tickets, including expanding its inventory, enhancing customer experience through technology and deepening partnerships across leagues, teams and venues.
“Securing this $50 million facility from Feenix Venture Partners and Eagle Point represents more than just capital – it’s a signal that the market shares our passion in what we’re building,” David Lane, CEO of Sports Illustrated Tickets, said. “We believe that, by combining a trusted 70-year iconic brand, diversified offerings and deep partnerships with teams and venues, we’re positioned to deliver exceptional value to fans, rights-holders and investors alike.”
Keith Lee, CEO of Feenix Venture Partners, said, “We are excited to support Sports Illustrated Tickets with capital to accelerate its continued growth. The company has a very innovative approach to scale its business, is one of the most trusted brands in sports, and has a loyal fan base, all part of a winning combination for long-term success.”
The new financing supports the company’s plans to enhance its platform, expand partnerships and improve the ticket-buying and fan-experience journey.
“Sports Illustrated Tickets is bringing a fresh perspective to live event ticketing – pairing the credibility of an iconic brand with modern data-driven technology that enhances the fan experience in sports leagues and major artist concerts,” Karan Chabba, principal and head of specialty finance at Eagle Point, said. “We’re pleased to provide this capital to help fuel their next phase of growth in expanding inventory and deepening partnerships across leagues and venues.”
