Sports Illustrated Tickets, a leading online platform for primary and secondary ticket sales, has announced that it has secured a significant $50 million credit facility. This substantial financing, led by Eagle Point Credit Management LLC and supported by Feenix Venture Partners, will enable the company to expand its operations and further enhance the experience for sports, concert, and theater enthusiasts worldwide. The company currently provides access to an impressive inventory exceeding $2.5 billion in value across these diverse entertainment categories.
This new credit facility is a crucial step for Sports Illustrated Tickets, enabling them to pursue several key strategic objectives. A primary focus will be on significantly expanding their inventory, offering fans an even wider selection of events and seating options. Furthermore, the company is committed to continually enhancing its customer experience by investing in cutting-edge technology, making the ticket-buying process smoother and more intuitive. Deepening existing relationships and forging new partnerships with various leagues, teams, and venues is another vital aspect of their strategy, which will ultimately benefit fans with more exclusive access and opportunities.
The acquisition of this financing underscores a decisive vote of confidence in Sports Illustrated Tickets’ overarching strategy and its long-term vision for the future of entertainment ticketing. It provides the necessary capital to drive forward the company’s ambitious plans, which include further refining its platform to be even more user-friendly and efficient. Expanding its network of partnerships will not only broaden its reach but also enrich the overall journey for fans looking to attend their favorite events. Ultimately, this investment is designed to enhance the ticket-buying process, making it more enjoyable and seamless, from initial search to the final experience at the venue.
KEY QUOTES:
“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. 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.”
David Lane, CEO, Sports Illustrated Tickets
“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.”
Keith Lee, CEO at Feenix Venture Partners
“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. 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.”
Karan Chabba, Principal and Head of Specialty Finance at Eagle Point
