Barstool Sports

Method

Dave Portnoy starts Barstool as a free Boston print sheet in September 2003, goes web only in 2007 and builds podcasts, merchandise and gambling partnerships into 90 to 100 million dollars of 2019 revenue. The Chernin Group buys 51 percent in January 2016 at a 10 to 15 million dollar valuation and moves it to New York. Penn National pays 163 million dollars for 36 percent in January 2020 at a 450 million valuation, buys the rest in February 2023 for 388 million, then hands the whole company back to Portnoy for one dollar in August 2023 to clear the way for its ESPN Bet deal. Barstool moves to Chicago, signs a wide ranging Fox Sports deal in July 2025 and a reported eight figure Netflix deal for three video podcasts in December 2025. Call Her Daddy starts here in 2018.

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The path: money and goods moving

• owned byDave PortnoyDave Portnoy founds Barstool in 2004 and regains 100 percent ownership from Penn Entertainment on August 8, 2023 in exchange for restrictive covenants and a 50 percent share of any future sale proceeds to Penn.2004 to present
• backed byThe Chernin GroupThe Chernin Group buys a majority of Barstool on January 7, 2016 at a valuation Portnoy puts at 10 million to 15 million dollars, adding Mike Kerns and Jesse Jacobs to the board.2016
• acquired byThe Chernin GroupThe Chernin Group buys 51 percent of Barstool in January 2016 at a valuation of 10 million to 15 million dollars and sells its remaining 36 percent to Penn by 2023.2016 to 2023
• spawnedAlex CooperBarstool buys Call Her Daddy in 2018 and Cooper leaves for Spotify in 2021.2018 to 2021
• spawnedCall Her DaddyBarstool signs Call Her Daddy in 2018 on a 75,000 dollar base contract and loses it to Spotify in 2021.2018 to 2021
• spawnedJosh RichardsRichards co hosts BFFs with Dave Portnoy at Barstool.2020 to present
• acquired byPenn EntertainmentPenn closes its 163 million dollar purchase of 36 percent on February 20, 2020, pays about 388 million dollars for the rest in February 2023, then returns the company to Portnoy on August 8, 2023 for non compete covenants and half of any future sale proceeds.2020 to 2023
• backed byPenn EntertainmentPenn buys 36 percent of Barstool for about 163 million dollars, closing February 20, 2020, at a 450 million dollar valuation.2020 to 2023
• spawnedUnwellAlex Cooper, developed at Barstool, founds Unwell in August 2023.2023

Representation, events, tools

• representsBussin' With The BoysBarstool Sports distributes and sells Bussin' With The Boys from its 2019 launch until the hosts leave in January 2025, a departure Dave Portnoy confirms publicly.2019 to 2025