Barstool Sports Gif (2024)

FAQs

How much did Dave Portnoy sell Barstool for? ›

According to a new securities filing, Portnoy acquired the sports media brand he founded for just $1. Of course, there are other pieces to the deal, but the shocking sale price (Penn spent $551 million to acquire Barstool) makes for an interesting end to that relationship.

A press release published Tuesday said that Penn sold 100% of the Barstool's common stock back to Portnoy "in exchange for certain non-compete and other restrictive covenants." A subsequent filing said the sale price to Portnoy was $1.

Barstool Sports is an American blog website and digital media company headquartered in New York City that publishes sports journalism and pop culture-related content.

Company Overview

It was founded by Dave Portnoy back in 2003 and was originally a free print publication that offered gambling advertisem*nts and fantasy sports projections. In 2007, Barstool Sports launched on the internet and it was a rocketship from there on out.

7 Portnoy likely made hundreds of millions from the original deal with Penn, and now owns 100% of Barstool again. Investopedia requires writers to use primary sources to support their work.

Barstool Sports founder Dave Portnoy says he's down about $647,000 after becoming a day trader to substitute for the lack of sports gambling amid the coronavirus pandemic.

Dave Portnoy has regained ownership of Barstool Sports, three-and-a-half years after selling the media and entertainment group to casino operator Penn Gaming.

In 2020, after his partial sale of Barstool to Penn, Portnoy claimed to be worth around $100 million, according to the New York Times. As of mid-2024, however, Portnoy's net worth is estimated to be around $150 million, according to Celebrity Net Worth.

This investment granted Penn Gaming an option to acquire the entire company, culminating in the transformative transaction of August 2022. Penn Gaming exercised its option, purchasing Barstool outright at a valuation of $390 million.

Is Barstool profitable? ›

Barstool Sports Valuation History

Take FaZe Clan, for example. The esports and entertainment company bragged about its 350 million social media followers and went public at a $1 billion valuation last year. But the company wasn't profitable, and its stock is down 95% from its IPO price.

David Scott Portnoy (born March 22, 1977) is an American businessman and social media personality. He is the founder and owner of sports and popular culture company Barstool Sports.

Dave Portnoy is no stranger to controversy

Portnoy infamously said some women “kind of deserve to be raped”, in a clip circulated online, resulting in widespread condemnation. In response, Portnoy has said, “You don't cancel me. I cancel you,” and “They've been trying to cancel me for two decades – I'm uncancellable.”

David moved to Boston and began his post-college career at IT market research firm, Yankee Group. He spent four years working for the company before eventually leaving the company to focus on starting his own Barstool Sports.

Dave Portnoy said he initially sold the company for about $500 million and bought it back for just $1 on the announcement of the PENN entertainment-ESPN deal. During an appearance on "Varney & Co.," the trailblazer also known for his One Bite pizza reviews deemed the pivotal deal as a ticket to decades more of success.

As of mid-2024, however, Portnoy's net worth is estimated to be around $150 million, according to Celebrity Net Worth. Portnoy's wealth largely comes from the sale of his stake in Barstool Sports.

Grantor: 30 Day Fund. Amount: $1,000 - $100,000

If you'd like to get financial assistance apply below.

DraftKings and Barstool Sports have officially completed a multi-million-dollar, multi-year sports betting media partnership. The new relationship between the pair was first reported by Sportico last month, with Barstool Sports founder Dave Portnoy confirming the deal yesterday evening, 11 February, on social media.