Dave Portnoy’s inevitable return to owning Barstool Sports
Dave Portnoy is back as the sole chieftain of Barstool Sports. Penn Entertainment, which bought 36 percent of the company in 2020 and increased its stake to 100 percent in February 2023, sold the company back to its founder Tuesday, “in exchange for certain non-competes and other restrictive covenants.” In other words: Penn basically gave the company back to Portnoy for free. Rarely does buyer’s remorse work out so well. Founded in Boston in 2003 as a print publication dedicated to fantasy sports and gambling, and initially completely produced by Portnoy, Barstool Sports quickly became a juggernaut in the sports and culture landscape.
