In this episode of Run the Numbers, CJ sits down with Glenn Schiffman, CFO of Fanatics. They break down the economics of sports IP, how Fanatics approaches CAC, LTV, and capital allocation across merchandising, collectibles, and betting, and the negotiation lessons Glenn learned from decades in investment banking and leading finance at IAC.

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LINKS: 

Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsN

Guest: https://www.linkedin.com/in/glenn-h-s-51440521/

Company: https://www.fanaticsinc.com/

CJ: https://www.linkedin.com/in/cj-gustafson-13140948/

Mostly metrics: https://www.mostlymetrics.com

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TIMESTAMPS:

0:00 Preview and intro

1:13 Welcome and guest intro

2:38 Football at Duke and college businesses

5:40 Predecessor to DoorDash story

7:10 IP monetization explained

9:22 All deals are snowflakes

10:36 Partnership KPIs

13:21 Sponsors — Brex | Aleph | RightRev

16:40 Buy, bet, collect: CAC and LTV

17:15 Single view of the fan

18:39 Multi-business customers spend 4.7x

20:32 Fanatics credit card launch

22:13 AI for personalization

23:01 DTC vs. wholesale margin profiles

24:05 Budgeting process

26:07 Infinite vs. finite: focus on revenue

26:37 Sponsors — Rillet | EY | SpendHound

29:47 Starve your losers, feed your winners

32:58 Capital compounding: revenue, EBITDA, FCF

33:56 Buybacks at IAC

37:02 First negotiation at Lehman

39:17 Outlasting the other side

39:56 Listening in negotiations

40:03 Long-Ass Lightning Round

44:25 Credits

#RunTheNumbersPodcast #CFO #SportsCommerce #CapitalAllocation #FinanceLeadership