Dave Portnoy’s Barstool Sports contract up in 20 months
Barstool Sports founder and CEO Dave Portnoy has revealed that his contract with parent company Penn Entertainment is up in 20 months and he’s unsure whether he’ll renew. The topic came up during an appearance on “The Kirk Minihane Show” during which Portnoy spoke about Barstool’s expansion plans, including Dan Katz’s move from New York to Chicago to open a Barstool office and bring dozens of employees with him. Portnoy expressed his support for Katz and said he was locked in for a “very long time”. Portnoy founded Barstool Sports in 2003 and building it into a sprawling national digital media empire that was purchased by Penn to develop an online sportsbook.
FAQs:
What is Barstool Sports?
Barstool Sports is a digital media company that started as a free tabloid for transit riders in Boston in 2003. It has since grown into a popular national sports and entertainment brand with a blog, podcasts, and videos. In 2020, Penn National Gaming purchased a 36% stake in the company for $163m, and a year later, it acquired the remaining 64% for $388m.
Who is Dave Portnoy?
Dave Portnoy is the founder and CEO of Barstool Sports. He started the company as a print tabloid in 2003 and has grown it into a national digital media brand. Portnoy is known for his controversial opinions and brash style, which has helped build a loyal following for the company.
What is Penn Entertainment?
Penn National Gaming, Inc., also known as Penn Entertainment, is a Pennsylvania-based gaming company that owns and operates casinos, horse racing tracks, and sports betting facilities. In 2020, the company purchased a 36% stake in Barstool Sports for $163m, before increasing its stake to 100% for $551m in 2021.
Will Dave Portnoy renew his contract with Penn Entertainment?
Dave Portnoy’s contract with Penn Entertainment is up in 20 months, and he’s not sure if he’ll renew. During an appearance on “The Kirk Minihane Show”, Portnoy revealed that there have been some talks about it, but he’s still uncertain.
What will happen to Barstool Sports if Dave Portnoy leaves?
If Dave Portnoy decides not to renew his contract with Penn Entertainment, it’s unclear what will happen to Barstool Sports. Portnoy is a controversial figure who has helped build Barstool’s brand, but his departure could make the company less of a lightning rod with state gambling regulators. Barstool Sportsbook received a license in Massachusetts earlier this year, but it was not an easy process, and it has not been licensed in New York yet.
What are Barstool’s expansion plans?
Barstool Sports is expanding its operations by opening offices in cities across the US. Dan Katz, one of the company’s co-founders, is moving to Chicago to open a new office and bring dozens of employees with him. Barstool is also launching a new gambling platform, Barstool Sportsbook, which is licensed in most states with legal sports betting.
What will Dave Portnoy do if he doesn’t renew his contract with Penn Entertainment?
If Dave Portnoy decides not to renew his contract with Penn Entertainment, he’s not sure what he’ll do. During his appearance on “The Kirk Minihane Show”, Portnoy said he’s considered doing a weekly unfiltered podcast or launching a pizza show on Netflix. He’s also considered stepping away from the media industry altogether.
“Dave Portnoy’s 20-month tenure at Barstool Sports comes to an end”
Barstool Sports founder, Dave Portnoy, revealed that his contract with parent company, Penn Entertainment, will expire in 20 months and he is unsure if it will be extended. During an appearance on “The Kirk Minihane Show”, Portnoy also discussed Dan Kats’ move to open a Barstool office in Chicago and bring dozens of employees with him. Although Portnoy expressed his approval of the move, he mentioned the possibility of not being with Barstool Sports in the future, saying, “Who knows where I’ll be in 3-4 years.” Penn acquired Barstool Sports earlier this year for $551 million to develop an online sportsbook. The company was founded in 2003 and has blossomed into a national digital media empire since then. Despite his uncertainty about his future with the company, Portnoy remains grateful for the partnership, given the reluctance of other gambling companies to take a chance on Barstool.