Dave Portnoy is now the 100% proprietor of Barstool Sports activities after Penn Leisure bought the entity again to him.
As noticed on CNBC, the American businessman has bought the digital media firm again. On Tuesday (Aug. 8), the deal was introduced to the general public. In line with the information outlet, the phrases of the sale have but to be disclosed. Again in February the platform was evaluated at $600 million {dollars} by Penn Leisure after they accomplished the acquisition of Barstool Sports activities. On the time of the total buyout Dave Portnoy expressed his enthusiasm by way of formal assertion.
“Barstool Sports activities is greater than ever and has change into greater than I ever dreamed of,” Portnoy mentioned. “I’m very grateful to the Barstool group and Stoolies who’ve been alongside for the journey. I’m wanting ahead to this subsequent chapter with PENN.”
In typical style he took to social media to offer a a lot wanted replace to the Stoolies by way of what he deemed an emergency press convention. “As of this second, if you are watching this video, I’ve bought again Barstool Sports activities from Penn. For the primary time in a decade, I personal 100% of Barstool Sports activities” he mentioned in a Twitter video.
He went on to offer extra element on why the partnership didn’t work out. “We underestimated simply how powerful it’s for myself and Barstool to function in a regulated world the place playing regulators, The New York Instances, Enterprise Insider hit items f—ing with the inventory costs each time we did one thing. It was one step ahead, two steps again. The regulated trade might be not the very best place for Barstool Sports activities and the kind of content material we make.”
You’ll be able to see Dave talk about issues under.
Supply hyperlink