David Portnoy, the founder of Barstool Sports, has regained ownership of his media brand after buying it back from Penn Entertainment. Portnoy announced the separation between Penn and Barstool in a post on Tuesday.
David Portnoy, the founder of Barstool Sports, is once again the owner of his media brand, after buying it back from Penn Entertainment.In this articleDavid Portnoy, founder of Barstool Sports, is interviewed at the Trackside Live Stage in the LVMS Neon Garage before the South Point 400 Monster Energy NASCAR Cup Series playoff race on September 15, 2019, at Las Vegas Motor Speedway in Las Vegas, NV.
in February, when Penn bought the rest of the company it didn't already own. Penn became a minority owner in 2020.2003, said in a post on Tuesday that Penn and Barstool had "gone our separate ways." Penn said the divestiture was completed in exchange for "non-compete and other restrictive covenants."
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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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Penn Entertainment's Barstool Sportsbook App to be Rebranded as ESPN BetPenn Entertainment's Barstool Sportsbook app will be rebranded as ESPN Bet this fall as part of a 10-year agreement. WeWork raises doubt about its ability to stay in business amid losses and a dwindling cash pile.
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Dave Portnoy buys Barstool Sports back for next to nothingDave Portnoy announces in a video that he has bought back Barstool Sports for a minimal amount. He mentions facing challenges and denials in the regulated industry, indicating that it may not be the best fit for the type of content they produce.
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ESPN partners with PENN Entertainment to form ESPN BET, which will launch this fallIn a partnership with PENN Entertainment, ESPN will launch ESPN BET this fall in the 16 legalized betting states where PENN Entertainment is licensed. PENN is selling its stake in the Barstool sportsbook back to the company's founder, Dave Portnoy.
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