Staff Reports
Dave Portnoy, the founder and president of Barstool Sports, has announced that he has bought back the company from investors. In a fiery press conference, Portnoy declared that he will be steering the ship back towards its roots and will not be silenced by censorship. Yes, you heard that right, Portnoy now owns 100% of Barstool Sports once again, and he couldn’t be happier about it!
Earlier this year, a casino group and sports gambling company called PENN Entertainment acquired Barstool Sports in a deal worth over $551 million. But now, Portnoy has taken to social media to reveal that he has flown the coop. “PENN Entertainment and Barstool Sports have gone our separate ways,” Portnoy exclaimed. He then went on to express his gratitude towards PENN, but also explained the limitations that come with being a publicly traded company.
In the regulated world of gambling, Portnoy and Barstool faced numerous obstacles and setbacks. They were denied licenses, faced criticism from media outlets like the New York Times and Business Insider, and even had their stock price manipulated. It turns out that being politically incorrect and boundary-pushing doesn’t sit well with everyone. Who would have thought?
But now, with complete ownership of Barstool Sports once again, Portnoy is ready to set sail on the pirate ship. No more watching their words or being restricted in what they can do. Barstool Sports can return to its rebellious and unfiltered self. And just to put the icing on the cake, Portnoy made a promise to never sell the company again.
In a press release, PENN revealed that they sold 100% of Barstool’s common stock back to Portnoy. However, they still have a stake in the company and will receive proceeds from any future sale or monetization event involving Barstool. It seems like PENN might have gotten the short end of the stick in this deal.
Overall, this is a big win for Portnoy and Barstool Sports. They can now reclaim their independence and freedom of speech without being bogged down by regulations and corporate interference. It’s a victory for the fans who love Barstool’s unapologetic style. Conservative readers will surely appreciate the pushback against censorship and the return of raw, uncensored content. Cheers to Portnoy and the pirate ship!
