Why Portnoy Buying Back Barstool Sports Matters
If you have not yet seen the news, Dave Portnoy has bought back Barstool Sports for a whopping $1 DOLLAR! This comes after selling the company to Penn National Gaming for $550 MILLION. Definitely a steal. But who actually benefits from this purchase? I would argue everyone except for maybe Dave. That’s not to say Dave won’t benefit, but from going to almost retired to being back in the mix 110% is quite the life shift.
The Fans: I am not some diehard day 1 Stoolie, but have been a loyal fan since Covid. I am not mister bring back the old Barstool, but I definitely see where the day 1 fans are coming from. I agree that they are missing that moment and time in their lives more than the actual shift in content, but it is good to get those old vibes flowing and make everyone feel young again!
The Gamblers: I think the gamblers who enjoy Barstool’s content will benefit the most. The main example is the “Can’t Lose Parlay” by Big Cat. Barstool and PENN were fined and got in trouble for advertising a parlay that “can’t lose.” In the gambling industry, it is not okay to advertise a sports bet or pick as something that “can’t” lose. THAT’S THE FUCKING JOKE. But regulators do not operate using common sense, and appear to have their own agendas at play. Dave owning Barstool again allows for the “darker” or “not allowed” jokes or comments to be made regarding gambling. Considering we are all a bunch of degens, we don’t mind hearing a joke about suicide after losing your $5 parlay by 1 leg. Sports gambling is meant to be entertaining and fun. Dave owning Barstool again allows for much more wiggle room in this regard.
The Employees: Most employees should benefit from this shift, and if they don’t, it is probably just because they are lazy. The content opportunities are endless, and so many stars will be born in the next 5 years out of Barstool.