<p>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.</p><p>—</p><p>SPONSORS:</p><p>Brex is an intelligent finance platform that combines corporate cards, built-in expense management, and AI agents to eliminate manual finance work. By automating expense reviews and reconciliations, Brex gives CFOs more time for the high-impact work that drives growth. Join 35,000+ companies like Anthropic, Coinbase, and DoorDash at <a href="https://www.brex.com/metrics"><u>https://www.brex.com/metrics</u></a></p><p>Aleph is a modern FP&amp;A platform built for teams that want more than another planning tool. By connecting your ERP, CRM, and other systems into one trusted data layer with AI workflows, Aleph helps you move faster with real-time insights. Get a personalized demo at <a href="https://www.getaleph.com/run"><u>https://www.getaleph.com/run</u></a></p><p>RightRev is an automated revenue recognition platform built for teams that have outgrown spreadsheets and billing tool workarounds. It handles high-volume subscriptions, usage-based contracts, and mid-cycle upgrades, so you can scale without scrambling at month-end. For RevRec that keeps your books clean, visit <a href="https://www.rightrev.com/CJ"><u>https://www.rightrev.com/CJ</u></a></p><p>Rillet is an AI-native ERP built for modern finance teams that want to close faster without fighting legacy systems. Designed to support complex revenue recognition, multi-entity operations, and real-time reporting, Rillet helps teams achieve a true zero-day close—with some customers closing in hours, not days. If you’re scaling on an ERP that wasn’t built in the 90s, book a demo at <a href="https://www.rillet.com/cj"><u>https://www.rillet.com/cj</u></a></p><p>EY works with high-growth tech companies to navigate the messy realities of scaling—from regulatory requirements to IPO readiness. By helping teams get it right early and often, EY lets founders stay focused on building while reducing risk as they grow. Learn more at <a href="https://www.ey.com/techstartups"><u>https://www.ey.com/techstartups</u></a></p><p>SpendHound is a SaaS spend management platform built for finance and procurement teams that want visibility and leverage in every deal. By tracking all your software, benchmarking pricing across thousands of vendors, and surfacing contracts and renewals, SpendHound helps you stop overpaying and negotiate with confidence. Trusted by teams at ZoomInfo and Hootsuite. Get started at <a href="https://www.spendhound.com"><u>https://www.spendhound.com</u></a></p><p>—</p><p>LINKS: </p><p>Mostly Talent: <a href="https://mostlymetrics.typeform.com/to/cLTxtAsN"><u>https://mostlymetrics.typeform.com/to/cLTxtAsN</u></a></p><p>Guest: <a href="https://www.linkedin.com/in/glenn-h-s-51440521/"><u>https://www.linkedin.com/in/glenn-h-s-51440521/</u></a></p><p>Company: <a href="https://www.fanaticsinc.com/"><u>https://www.fanaticsinc.com/</u></a></p><p>CJ: <a href="https://www.linkedin.com/in/cj-gustafson-13140948/"><u>https://www.linkedin.com/in/cj-gustafson-13140948/</u></a></p><p>Mostly metrics: <a href="https://www.mostlymetrics.com"><u>https://www.mostlymetrics.com</u></a></p><p>—</p><p>TIMESTAMPS:</p><p>0:00 Preview and intro</p><p>1:13 Welcome and guest intro</p><p>2:38 Football at Duke and college businesses</p><p>5:40 Predecessor to DoorDash story</p><p>7:10 IP monetization explained</p><p>9:22 All deals are snowflakes</p><p>10:36 Partnership KPIs</p><p>13:21 Sponsors — Brex | Aleph | RightRev</p><p>16:40 Buy, bet, collect: CAC and LTV</p><p>17:15 Single view of the fan</p><p>18:39 Multi-business customers spend 4.7x</p><p>20:32 Fanatics credit card launch</p><p>22:13 AI for personalization</p><p>23:01 DTC vs. wholesale margin profiles</p><p>24:05 Budgeting process</p><p>26:07 Infinite vs. finite: focus on revenue</p><p>26:37 Sponsors — Rillet | EY | SpendHound</p><p>29:47 Starve your losers, feed your winners</p><p>32:58 Capital compounding: revenue, EBITDA, FCF</p><p>33:56 Buybacks at IAC</p><p>37:02 First negotiation at Lehman</p><p>39:17 Outlasting the other side</p><p>39:56 Listening in negotiations</p><p>40:03 Long-Ass Lightning Round</p><p>44:25 Credits</p><p>#RunTheNumbersPodcast #CFO #SportsCommerce #CapitalAllocation #FinanceLeadership</p>