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Dave Portnoy Buys Barstool Sports Back from Penn Entertainment

Written by Nate

Via a recent ‘Emergency Press Conference’ video on X, Dave Portnoy has announced that he is back as the sole owner and ‘boss man’ of Barstool Sports.

In the video below, Portnoy has stated Barstool and the Penn Entertainment Group have ‘gone their separate ways’ and sold the outlet to Portnoy due to a variety of reasons.

The ‘El Presidente’ has mentioned managing with gambling regulators, hit pieces on Portnoy from Business Insider and others and Penn’s new deal with ESPN as the main reasons for the separation.

“Every time we did something, it was one step forward, two steps back,’ Portnoy explained in the video. “We got denied licenses because of me. You name it.”

According to an article by Axios, the new deal that PENN Entertainment and ESPN agreed upon is to operate their own new sportsbook, renaming all Barstool Sportsbooks nationwide to ESPN Bet.

PENN originally bought Barstool Sports in a timeline between 2020 and this past February for $551 million. But as Portnoy acquires his outlet back, he has vowed to sell Barstool Sports as long as he’s around.

“I am never going to sell Barstool Sports ever. I’ll hold it until I die,” Portnoy said.

Main image: Dave Portnoy, founder of Barstool Sports, at the company’s New York offices. BARSTOOL SPORTS

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Nate