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SoftBank Is Said to Bet $1 Billion on Web Sports Store Fanatics

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Photographer: Kiyoshi Ota/Bloomberg

SoftBank Group Corp. is nearing a $1 billion investment in Fanatics Inc., an online retailer of licensed sports apparel, as the Japanese firm ramps up deal-making with its mega technology fund.

The deal is expected to increase Fanatics’s value to about $4.5 billion, said a person familiar with the matter. It will bring the company’s total funding to about $1.7 billion, said the person, who asked not to be identified because the details are private.