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Started By
Message
Portnoy has bought back Barstool
Posted on 8/8/23 at 3:38 pm
Posted on 8/8/23 at 3:38 pm
LINK
and Barstool Sportsbook will be rebranded ESPN Bet.
quote:
Gunz
@TheGunzShow
·
1m
Portnoy says that he has complete ownership of Barstool for the first time in nearly a decade since the Chernin deal (before PENN). Says he won’t ever sell Barstool while adding that Barstool’s regulated / corporate move was not the correct decision in hindsight
and Barstool Sportsbook will be rebranded ESPN Bet.
This post was edited on 8/8/23 at 3:43 pm
15
Posted on 8/8/23 at 3:40 pm to 1999
Will be fascinating to see what the terms are. I'd guess they basically gave it back to him for pennies on the dollar.
Penn is way up after hours with the ESPN deal.
Penn is way up after hours with the ESPN deal.
Posted on 8/8/23 at 3:41 pm to 1999
Why would anyone want to connect themselves with the dying entity that is ESPN
Posted on 8/8/23 at 3:41 pm to usc6158
quote:And he still owns million in penn stock lol.
Will be fascinating to see what the terms are. I'd guess they basically gave it back to him for pennies on the dollar.
Penn is way up after hours with the ESPN deal.
The real winners are the other equity guys. They got that massive chunk of equity and didn't have to buy back the company
Posted on 8/8/23 at 3:42 pm to 1999
Interesting...
Posted on 8/8/23 at 3:43 pm to 1999
Bring back Mintz
Posted on 8/8/23 at 3:44 pm to msutiger
i think the mintzy deal might have been when dave and penn decided to split.
Posted on 8/8/23 at 3:44 pm to RummelTiger
its probably great for everyone
Barstool can do what they want, not have to worry about Gambling Regulators and all that jazz.
Penn gets a much better deal with ESPN.
And Portnoy and others still own the stock
Barstool can do what they want, not have to worry about Gambling Regulators and all that jazz.
Penn gets a much better deal with ESPN.
And Portnoy and others still own the stock
Posted on 8/8/23 at 3:45 pm to Fun Bunch
So no more barstool sportsbook ads?
I guess they're just going to slap ESPN logos over all the barstool logos
I guess they're just going to slap ESPN logos over all the barstool logos
This post was edited on 8/8/23 at 3:47 pm
Posted on 8/8/23 at 3:46 pm to Fun Bunch
Dave comes out of this smelling like a rose!
Posted on 8/8/23 at 3:49 pm to RummelTiger
Dave def swings both ways
Posted on 8/8/23 at 3:49 pm to 1999
Didn’t ESPN cancel a barstool show they had once upon a time?
This post was edited on 8/8/23 at 3:50 pm
Posted on 8/8/23 at 3:49 pm to 1999
Hopefully Portnoy cuts all the bloat around his company and opts to return to the Barstool of the old days.
Objectively, the Barstool Sportsbook was nothing special compared to the other options. Highly doubt ESPN will be any different.
Objectively, the Barstool Sportsbook was nothing special compared to the other options. Highly doubt ESPN will be any different.
Posted on 8/8/23 at 3:51 pm to usc6158
I'm confused. He doesn't have the resources to buy this all back from Penn, does he?
Posted on 8/8/23 at 3:54 pm to usc6158
PENN gets 50%, if he were to sell again.
Posted on 8/8/23 at 3:54 pm to 1999
Wrote him off after he bashed Angel. frick em
Posted on 8/8/23 at 3:55 pm to Bunk Moreland
quote:
I'm confused. He doesn't have the resources to buy this all back from Penn, does he?
Like someone said earlier, penn probably wanted out and gave it to him for a bargain so they could team up with ESPN.
Posted on 8/8/23 at 3:56 pm to The Eric
quote:
Why would anyone want to connect themselves with the dying entity that is ESPN
I mean, it's still the biggest sports entity by far and now they are going full throat into the booming sports betting business.
Like it or not, there is more legitimacy for random sidewalk fans looking to break into sports betting when they see "ESPN Bet" as opposed to "Barstool Sportsbook"
Posted on 8/8/23 at 3:56 pm to jlovel7
Ah, so he got name back for the media aspects, but is out of gaming?
Posted on 8/8/23 at 3:57 pm to Bunk Moreland
quote:
I'm confused. He doesn't have the resources to buy this all back from Penn, does he?
It's basically worthless to Penn with the ESPN deal. I'm sure he basically got it for nothing and I'm sure it's heavily financed.
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