Fanatics
Julie Yoo was only a few days into her role as the first hire in the mergers and acquisitions group at Fanatics when the company started down the road to purchase Topps, the iconic trading card brand.
Two months after locking up exclusive trading card rights from MLB, the NFL, NBA and the players associations in those leagues, Fanatics hoped to pair them with a familiar brand that suddenly found itself without the rights it needed to produce cards.
“There was not much of an onboarding time,” said Yoo, a Wharton MBA who joined the company in October 2021 after stints at Google and Scripps Networks Interactive. “We jumped on it. I built the first model. I was the first person on the M&A team, so for a couple of weeks it was just me.”
They closed the transaction just before the calendar turned, wrapping up about 10 weeks after the initial letter of intent was signed.
“New Year’s Eve, at 4:55, is when we wired the money,” Yoo said. “And then we all had lots of champagne.”
Yoo led another transformational acquisition this summer, when Fanatics acquired the U.S. business of Australian-based sportsbook PointsBet for $225 million.
Long expected to purchase an established sportsbook in order to more efficiently add licenses in a swath of states and add proven technology and expertise. Fanatics waited out the market, correctly anticipating prices would come down as competitors that had already entered burned through cash.
When PointsBet accelerated plans to exit its U.S. investment at the start of this year, Fanatics found the match it wanted at a palatable price.
“Like in anything,” Yoo said, “timing is everything.” — Bill King
Julie Yoo
Senior Vice President, Global Head of Mergers and Acquisitions, Fanatics
Born: Seoul, South Korea
Education: University of Pennsylvania, B.A. and MBA
Family: Spouse, Michael Lee; children, Alison Lee (17) and Madeline Lee (13)
More about Julie
Something that instantly makes my day better: Morning journals.
Advice to my younger self: Life is full of different adventures. Embrace it with great attitude and learn from it.
If I did not work in sports … : I would be in consumer tech.
Biggest career risk: Moving to an operational role at Google after spending a decade in corporate development/M&A.
Proudest professional achievement: Making lasting impacts at Scripps Networks and Fanatics through various M&A deals.
Person in sports business I’d most like to meet: Serena Williams.
I wish I’d known at my career’s start: Having a career is similar to building a toolkit and using your toolkit to make something fun and great.
