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Report: SoftBank to invest $1B in sports online retailer

SoftBank Group Corp. is taking out $1 billion from its Vision Fund to invest in online sports retail company Fanatics Inc., people familiar with the matter told The Wall Street Journal.

The investment, which would reportedly lift Fanatics' valuation to $4.5 billion after the funding round, is expected to close this month.

Florida-based Fanatics, which holds exclusive rights to sell and make licensed merchandise for teams and major sports leagues, counts the National Football League and Major League Baseball as its investors.