Dave Portnoy Got One Hell of a Deal on His Re-Acquisition of Barstool

📆 10.08.2023 03:23:00
📰 thedailybeast

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Barstool Sports founder Dave Portnoy reportedly bought back his company from Penn Entertainment for just $1.

Barstool Sports founder Dave Portnoy bought back his company from Penn Entertainment for just $1, according to, which cited new securities filings on the sale.

The deal is a shocking end to what was once seen as a potentially game-changing sports media partnership—Penn spent a whopping $551 million to acquire Barstool and said in Wednesday’s filing that it expects to stomach a $800-850 million loss on the deal. The company ditched Barstool to partner with ESPN and rebrand its sportsbooks.

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Penn Ditches Barstool Sports for ESPN, Sells Company Back to Dave PortnoyPenn Entertainment has sold Barstool Sports back to founder Dave Portnoy in order to partner with ESPN and rebrand its sportsbooks, the company announced. Portnoy blamed the 'regulatory world' and mainstream media for the split, which he billed as a 'win-win.'
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