It was around 2008 that Barstool went digital, in attempt to keep up with the increasingly competitive sports media business. Barstool founder David Portnoy assured readers he'll retain 100 percent control over editorial content. 2%, I'm just. That’s the source of the $7m minimum he made from the initial transaction ($49. Podtrac says that made it the ninth-biggest podcast publisher among those it measures. As part of the $450 million deal, Penn received a 50 percent ownership stake in Barstool. Pennsylvania-based PENN Entertainment initially bought a 36% stake in Portnoy’s Barstool Sports in a $163 million deal in 2019, and purchased the remainder of the company—known. 17 and admittedly, the closest individual to a walking, talking suit at Barstool. It's gotta be here. It is now. Penn National Gaming acquired a 36% stake in Barstool Sports for around 163 million dollars. About PENN Entertainment. Following Monday’s development that Vitamin Water co-founder Mike Repole and an unidentified in…I think the payments from ad-reads are tiered - like 0. Q. Penn National to Acquire 36% Interest in Barstool Sports for Total Cash and Stock Consideration of $163 Million. Penn Entertainment Inc. Portnoy launched the sports and pop culture. , TCG XII, LLC, TCG Digital Sports, LLC and. In January 2020, Penn National Gaming paid $163 million for a 36% stake in Barstool Sports, with previous owner the Chernin Group left with the same percentage stake. Penn. The move marks a remarkable journey for Portnoy and Barstool Sports. Portnoy sold Barstool to PENN Entertainment in a two-part sale — the latter transaction having just closed in February of this year — for $551 million. The company’s initial investment in Barstool was to help cut down on marketing costs on a branded Barstool. Gym. Penn National Gaming ( PENN 1. Barstool Sports By Ben Koo on 06/25/2019. Penn, a casino operator, purchased Barstool in Jan. Portnoy, Penn National reported that Barstool had lost $16. sports 472. Barstool Sports Gambling By Andrew Bucholtz on 02/17/2023. Dave Portnoy has regained ownership of Barstool Sports, three-and-a-half years after selling the media and entertainment group to casino operator Penn Gaming. Portnoy previously sold a majority ownership stake in the company to the Chernin. Click it to confirm ownership of your account and complete registration. 13. A self-described "journalism school dropout" and "spelling bee champion," Kmarko was one of the earliest hires at Barstool Sports. Source: buddy works in ad management. 2% year on year to $1. m. He also had pre-existing Barstool shares (an undetermined amount), so his total equity % is/was higher than the ~1. Between 2016 and 2022 we calculate a compound annual adoption growth rate (CAGR) of 146% and a 23% CAGR between 2018 and 2022. The gaming company first acquired a share of Barstool in 2020. Barstool MA Intro Promo: First bet insurance up to $1,000. To up its Barstool ownership to 100%, Penn has to meet certain conditions with a total cost of $387m. PFT- The NFL curiously has slammed the door on teams giving equity to players or employees, before anyone ever actually tried to do it. The Entire Barstool Store Is Now 20% Off Through Cyber Monday. On Friday, Dan “Big Cat” Katz, co-host of Barstool Sports’ “Pardon My Take” podcast, gave a long-winded 10-minute rant complaining that he was not involved in the decision for Barstool. Tank's Taste Test What the Fanta 2023. The typical U. ago. Penn said it paid $388 million for the 64% stake in Barstool did not already own. bar goes through ups and downs, depending on what's hip, and it's his job via the "reality" show "Bar Rescue" to take a failing bar and mold it into something that will work. The online content. 6 bar stools. An option to buy controlling ownership will be determined at that time. (“PENN” or the “Company”) has call rights with respect to all of the outstanding shares of common stock of Barstool Sports, Inc. Dave Portnoy, the enigmatic founder and owner of Barstool Sports, sold the majority of his company to casino operator Penn Entertainment for $387 Million. It's what percentage of the drink's sale price you're eating to create the drink. For instance, if you give a 25 percent ownership stake in your company to outside investors, the founders of your startup would still have 75 percent ownership. Neither is sports. He covered various topics ranging from pop. Dave Portnoy has once again become the owner of Barstool Sports, the sports blog he founded in 2003. Barstool Sports has a revenue model that makes money in four (4) ways; revenue from their Barstool Sportsbook & Casino app, ad revenue, subscription revenue, and selling merchandise. This basically means Big Cat gets ownership. NEW YORK -- Barstool Sports, which got its start in Milton 20 years ago, completed its $388 million sale to casino operator Penn Entertainment on Friday. 0001. If Portnoy still owned 49% when Penn bought Barstool in a series of transactions starting in 2020, he may have collected another $230 million—about half of the cash Penn paid out on top of stock for. That purchase agreement gave them the option to pay an additional $62 million to push its ownership in Barstool to half, and another $325 million to buy out the remaining half of the sports betting and media company’s stock. Portnoy is among a small group of Barstool execs that maintains 28. So any equity that the big 3 have are out of Pres' shares. 5mm or $17mm (plus the $7. This move comes as the company’s founder, Dave Portnoy, regains control of Barstool Sports after a series of ownership changes. The Best Athletes to Ever Wear a Number 16 Jersey. In connection with and immediately following the Pre-Closing Contribution, and immediately prior to the consummation of the transactions contemplated by this Agreement, the Company. 25 million shares of Penn he received earlier this. The breakdown of the transaction was. Eastern), HBO will air a new episode of the acclaimed Real Sports. 86%, to $35. David Portnoy is known as a sports media figure and online entrepreneur in the US, having founded Barstool Sports. Penn, meanwhile, will take as much as an $850 million loss on the bro-focused sports entertainment brand it. Barstool's biggest strength is its strong bond with the. Dave Portnoy is back as the sole chieftain of Barstool Sports. They chose to purchase Barstool in full, spending $388 million to buy. Chernin Digital Group pumped an additional $15 million into expanding Barstool in 2018; two years later the company—now more of a lifestyle brand for men whose personalities and politics resolve as a conspicuous habit of saying aloud the word "tits"—was valued at $450 million when Penn paid $136 million in cash and stock for a 36-percent. Jordan Bondurant. “We couldn’t be more excited about moving our ownership position up from the current 36 percent. Penn National Gaming finalized its purchase of Barstool Sports late Tuesday, valuing the company at a whopping $450 million. The company purchased 36% of Barstool Sports common stock in February 2020. 6 million downloads. Big Cat’s payout in the initial 2020 transaction was at least partially disclosed to the SEC. After Penn National Gaming spent $163 million for 36% of the company back in 2020, they purchased the remaining 64% for $388 million at the end of February 2023. Breitbart News Network (known commonly as Breitbart News, Breitbart, or Breitbart. He and I. Sports Barstool Sports Sports journalism Journalism Sports Reading, Writing, and Literature comments sorted by Best Top New Controversial Q&A Add a Comment ilovewheat16 •According to several different websites, Erika Nardini’s current annual salary is more than $600,000. Working at Barstool Sports. Penn Entertainment will shift its partnership to ESPN . Lynne Sladky—AP Images Barstool Sports has been sold to Penn Entertainment Inc. Today, Mr. WYOMISSING, Penn. But it’s usually a percentage of your deposit. Sure, they are young and cheap but so is the ownership. He was also the first ‘real employee’ (non-writer) so it makes sense he was given equity. paid $163 million for a 36 percent stake in Barstool in January 2020 and. One of the waysBarstool's core marketing success is founded in their ability to make themselves the story, the brand, the product, the content, the platform, and the advertising. Specifics of the deal. Penn National to Host Conference Call and Webcast at 8:00 a. Self-styled as "El Presidente", Portnoy is the founder and owner of sports and popular culture company Barstool Sports. To get the most current information on Big Cat’s ownership in Barstool, it’s recommended to refer to recent news articles or official statements from the company. Fans of Dave Portnoy’s media and betting company have to reach younger audiences, Penn said in presenting its Q2 financial results. The two-part process will first see Penn pay $62m for 50% ownership. (Nasdaq: PENN) is North America’s leading provider of integrated entertainment, sports content and casino gaming experiences. Ownership Percentages and Business Loans. David Portnoy (2003-2016):. Pat McAfee was 100 million, and the Ringer was 200 million were way smaller than Barstool. Considering that Nardini is Barstool Sports CEO and. “We are extremely pleased to welcome Barstool Sports fully into the PENN Entertainment family,” said PENN Entertainment CEO and President, Jay Snowden. Barstool Sports founder David Portnoy says he's "getting the hell out of New York" on "Varney & Co. Dave originally sold Barstool to Penn because he believed the sports betting company could take the sports blog "to the moon. Portnoy had previously sold a majority ownership stake in the company to The Chernin Group,. Posted: November 24, 2023 | Last updated: November 24, 2023. Barstool founder Dave has a huge following on his Instagram, Facebook, and Twitter accounts and I bet you have heard about him. . In that sense, Barstool’s sale to a gambling company is perfect. Big Cat is believed to have an ownership stake in Barstool because he came aboard early in the company’s history. Barstool founder Dave Portnoy had sold. Barstool Sports General Information. . , a prominent digital sports media company, for approximately $163 million. Barstool Sports is set to undergo significant changes following Dave Portnoy regaining sole ownership. In a video posted to social media, Portnoy confirmed that “for the first time in a decade,” he again owned 100 percent of Barstool. Barstool Sports is a sports & pop culture blog covering the latest news and viral highlights of each and everyday with blogs, videos and podcasts. florida state of the state 2023 0 items / 0,00. Some details have emerged regarding Dave Portnoy regaining full ownership of Barstool Sports, including one crazy nugget. Barstool, otherwise known as Barstool Sports, is an American digital media company with a core focus on pop culture and sport, founded by David Portnoy in 2003 in Massachusetts as a print publication serving the Boston metropolitan area. Calculating Share Ownership. 1 day ago · The Entire Barstool Store Is Now 20% Off Through Cyber Monday. , retires, dies, sells their interest) or the owners decide to bring on another member, the ownership percentages must be changed so that the combined interests equal 100%. reporting that he is about to lay off around 25 percent of the workforce at Barstool,. July 6, 2020 at 2:19 PM · 3 min read. Per Front Office Sports, Barstool had a net loss of $16. Barstool, Penn National execs talk $163 million sports-betting deal. Microsoft had spent months negotiating a $10 billion investment that closed in January, and worked to keep its ownership stake just under 50 percent. Portnoy established Barstool Sports in 2003. The two-part process will first see Penn pay $62m for 50% ownership. Penn National Gaming (now called Penn Entertainment) purchased a 36% share in Barstool Sports in January 2020 at a $450 million valuation. Barstool was founded in 2003 by Dave Portnoy as a free sports and gambling newspaper. David Portnoy sold stakes in Barstool to The Chernin Group, owned by Peter Chernin. The casino company announced it’s taking a 36% stake in the digital sports media company for about $163 million in. . C. It was in 2013 that the company went exclusively digital. Part of Penn’s decision to acquire Barstool was due to its return to its gambling roots. ; Penn plans. 29. reporting that he is about to lay off around 25 percent of the workforce at Barstool,. Age, Net Worth, Height, Girlfriend, Family, Biography, Wiki. Popular digital media company, Barstool Sports, is set to undergo a substantial reduction in its workforce, with reports indicating that approximately 25 percent of its employees will face layoffs. Barstool founder Dave has a huge following on his Instagram, Facebook, and Twitter accounts and I bet you have heard about him. He took a small-town print publication and turned it into a media giant worth $450 million, and his net worth exploded because of it. Penn, which acquired 36 percent of Barstool in 2020 and purchased the remainder of the company this past February, was reportedly concerned about how Mintz’s comments could jeopardize regulatory. This move marks the first time in 10 years that the 46-year-old has taken up 100 percent ownership of said business. For a $62 million payment, Penn National, which has a market value of almost $3 billion, would expand its ownership to about 50% in three years. By. , per 100. For. This process is known as dilution. PENN and Barstool Sports initially announced an exclusive sports betting and iCasino partnership in January 2020, with PENN acquiring 36% of Barstool Sports. com which reports on the money that executives for various companies make says that Barstool Sports' highest-paid employee makes $600,000 a year. Portnoy’s reach is greater than ever. After all, he's trying to save bars, and as of April 2022, he's attempted to help over 200 bars. Barstool was founded in 2003 by Dave Portnoy as a free sports and gambling newspaper. Barstool Sports is a digital media company that publishes news and insights on sports and accessories segments. barstool ownership percentages. Promo: New players at Barstool will receive a $1,000 risk-free bet as the welcome bonus. ET Today. February 17, 2023. Kevin “KFC” Clancy has a vision for the future of the Barstool Sports office in New York City. Barstool Sports’s primary competitors include Deadspin, Bleacher Report, The Ringer and 7 more. Website. but I found another sale for the mattress that gave an additional percentage off so that was a no brainer. With the company’s valuation in the hundreds of millions of dollars, even a small percentage of the company isn’t an insignificant amount of money. The Barstool. I have absolutely no idea what the percentage was for powerplay goals around the league before the season was paused but considering the worst percentage in the league was Ottawa coming in at 14. Your pour cost is how much inventory you’re using—in dollars—divided by how much of that inventory you’re selling. "Every time we did something, it was one step forward, two steps back. An important fact to know about Kevin Clancy is that he joined Barstool Sports in August of 2009 and is one of its key figures for the rise in popularity. The initial deal included a path for Penn to gain full ownership of Barstool Sports. KFC. Hank has a large following on social media, gaining him potential revenue from brand deals and such. Bryson DeChambeau: FanShare Projected Ownership 16. 5 million. Our pick for Best Modern Stool is 18 inches wide. Its 200+ personalities are prolific creators of blogs, podcasts, tweets,. Plainridge Park Casino parent Penn National Gaming announced that it is purchasing 36 percent of the equity in Barstool in a transaction valued at roughly $163 million. At the time, the deal was worth $163 million. Penn took a 36% stake of Barstool Sports in February 2020 for approximately $163 million, comprised of about $135 million in cash and $28 million in non-voting convertible preferred stock. Barstool issued him ~142k shares right before Penn paid $49. Now the digital media company, perhaps best known for its. 1 million for the first six months of 2023 per Penn’s Aug. In its quarterly report filed with the SEC, Penn announced a decision to purchase $62 million of Barstool Sports common stock, raising its ownership to 50%. 00 dollar) and certain non-compete and other restrictive covenants,” the. Barstool is back in the news this week, again casting a bit of a shadow over a Penn Entertainment earnings call. 0. The Wall Street Journal has been briefed on the details, which are scheduled to be formally released Wednesday morning: Penn National will first buy a 36 percent. "PENN sold 100 percent of the Barstool Sports, Inc. Under the 10-year deal, Barstool Sportsbook will be rebranded as ESPN Bet. . A cruel case of cancel culture at Barstool Sports. PENN and Barstool Sports initially announced an exclusive sports betting and iCasino partnership in January 2020, with PENN acquiring 36% of Barstool Sports on February 20, 2020 for a total consideration of approximately $163 million, comprised of approximately $135 million in cash and $28 million in non-voting convertible preferred stock. Since Nardini took the wheel a few years ago, the company’s valuation has multiplied at least 5x. Activate our Barstool Sportsbook Ohio promo with the code FOREST1000 here to lock in a $1,000 new player bonus on your first eligible wager, as well as Barstool’s additional “bet $10, get $100. In the video, which runs more than two minutes, Portnoy did his best Alexander Haig, saying he is in control at Barstool Sports and owns 100 percent of the company. Therefore, sports producer Hank Lockwood has an estimated net worth of $700,000. Barstool's app reeled in north of 20,000 new registrations during those one-and-a-half days, and it beat every other operator in App Store rankings. Portnoy’s reach is greater than ever. Advertisement. Write to Barstool Sportsbook and Casino at the following address and request a copy. Every dollar we make. From humble beginnings he managed to turn Barstool into an internet juggernaut with hundreds of millions of dollars in revenue and thousands of employees. Big Cat’s payout in the initial 2020 transaction was at least partially disclosed to the SEC. This should put the "Barstool Employee Group" at around ~21% ownership of the entire Barstool Company with Chernin owning around 79% now. Wyomissing, PA 19610. Those who owned equity in Barstool, including Portnoy,. Detroit Lions Fans Are Starving For A Playoff Run. To up its Barstool ownership to 100%, Penn has to meet certain conditions with a total cost of $387m. by Jarvis Dobrik. There are plenty of “woke” digital media. A percentage is used to compare two values and it gives very. The day has come, when a bunch of middle aged football Coaches stare directly into the sun and pose for an awkward photo that none of them want to be a part of and I dust off the old computer and see if these blogging fingers still work. " As of August 2023, Dave is once again the sole owner of Barstool Sports. There is a zero point zero percent chance of that happening. Understanding your ownership percentage—and how to change it—can help you leverage significant influence over the future of your company. Certain shareholders of your company may be more credit-worthy than others; therefore, you may seek to adjust ownership percentages accordingly to look more fiscally. You can place two $500 bonus bet wagers, four $250 bonus bets, or even 1,000 $1 bonus bets -- to match the bonus cash amount, up to $1,000. Barstool started as a print-only publication in the early part of the 200's with Portnoy self-distributing the pieces on the Boston public transport system. Chernin Group will retain 36 percent ownership. On Tuesday, Portnoy announced that he regained full ownership of Barstool Sports, the company he founded in 2003. Portnoy’s $1 snag to regain full control of the company came a couple of weeks after he slashed the sale price of his listed Hamptons mansion from $13 million down to $10. It is now a digital platform that covers sports, lifestyle, and entertainment with more than 200 million followers. THIS STOCK PURCHASE AGREEMENT (this “Agreement”), is made as of January 28, 2020 by and among Penn National Gaming, Inc. Around that, Penn also transferred Barstool Sports back to founder Dave Portnoy in exchange for $1, non-compete agreements, and a 50 percent stake in further sales or monetization ventures from. At the time, the deal was worth $163 million. For example, Barstool is now generating $200 million in annual revenue. But his company still has a distance to go. Penn National will increase its ownership in Barstool Sports to approximately 50% after three years (or earlier, at Penn National’s election) with an incremental investment of approximately $62. Penn sports betting entertainment empire. On Tuesday, Portnoy announced that he regained full ownership of Barstool Sports, the company he founded in 2003. Penn National acquired a 36% share of Barstool Sports for $163 million in January 2020 in a deal calling for additional investment of $62 million within three years. Fortunately for him, at the time he was ready to make the jump to full time blogger Barstool was reaching the height of its popularity. When barstool grows so does. Barstool Sports Net Worth. Upon taking back ownership in August, Mr. 2 million in 2020. Barstool Sports is set to undergo significant changes following Dave Portnoy regaining sole ownership. Barstool Sports founder Dave Portnoy launched a fundraising effort with the nonprofit 30 Day Fund for small businesses impacted by COVID-19 called "The Barstool Fund, contributing. 26 percent at the time that he captured the image. Barstool Sports, the high-profile, controversial, and fast-growing sports media company, may soon have a new owner: A low-profile casino operator. Penn getting Barstool for less than $400 million is a steal. It completed a full acquisition of the company at the. The publicly traded casino company Penn Entertainment is poised to take over Barstool, following a 2020 deal in which it bought a 36 percent stake. e. On August 8, 2023, the same day Penn announced a long-term exclusive betting partnership with ESPN, Dave revealed that he had re-acquired 100% ownership. One of the three features is a look at Barstool Sports. sections: hiphop 499. For the first time in a decade, I own 100 percent of Barstool Sports,” Portnoy said. Kevin Clancy, well known as Kfc Barstool is an American podcast host and also a blogger for barstool sports. , a publicly owned casino operator, purchased a controlling 36 percent stake in Barstool earlier this year in a deal that valued the media company at a reported $450 million. They've never had a payroll even hit $103 million. Barstool lost $16. the 52-week trading range of. In 2016, Portnoy sold a majority stake of Barstool Sports to The Chernin Group, allowing the company to expand its reach and influence. Penn took a 36% stake of Barstool Sports in February 2020 for approximately $163 million, comprised of about $135 million in cash and $28 million in non-voting convertible preferred stock. That’s the source of the $7m minimum he made from the initial transaction ($49. For the first six months of 2023, before Barstool was sold back to Mr. Since Barstool doesn’t. Talked to 5 others saying they have same issues. Typically, startups go through multiple rounds of funding, and with each successive round, the founder's ownership percentage shrinks. Barstool Sports is an American blog website and digital media company headquartered in New York City that publishes sports journalism and pop culture -related content. On. Portnoy immediately laid off 25 percent of its staff. Penn Entertainment Now Owns 100 Percent of Barstool Sports. It's not like the team has nothing to work with. Top 5 Employees On The Hot Seat Now That Dave Portnoy Has Full Ownership Of Barstool Sports Back. According to report by the New York Post’s Andrew Marchand, the. The company’s stock closed down 0. The executive reportedly sold about 51% of Barstool in 2016 to the Chernin Group for roughly $5 to $8 million, based on reports at the time. 3 million in bets during Q2. Open this week, and for good reason. Plainridge Park Casino parent Penn National Gaming announced that it is purchasing 36 percent of the equity in Barstool in a transaction valued at roughly $163 million. It's not guaranteed the Orioles are going to be at the top of that division for any length of time. The company's controversial past continues to spur debate. Sports betting operators compete. Watch on YouTube HereWhen Coca-Cola announced this week that it’s paying $5. The deal valued Barstool at $450 million and granted Penn a 50 percent ownership stake. 4. Penn National will pay $163 million for a 36 percent stake in Barstool in the deal valuing the website at about $450 million, the gaming firm. Barstool was founded in 2003 by Dave Portnoy as a free sports and gambling newspaper. Back in January 2020, casino company Penn Entertainment purchased a minority stake (around 36 percent) in Barstool Sports for $135. It may be difficult to calculate this number, as it requires calculating share equivalents and unvested shares. The initial deal included a path for Penn to gain full ownership of Barstool Sports. but I am listening to the first episode right now and I have to be honest I am pretty confused 🤷🏻♂️ he starts with a rant about how now that he has his own show he can “finally talk about what he wants to talk about” and “no one else can tell him. Penn Entertainment Penn Entertainment completed its previously announced acquisition of Barstool Sports, paying $388 million. Penn Entertainment Penn Entertainment completed its previously announced acquisition of Barstool Sports, paying $388 million for the 64% stake it did not already own. Those who owned equity in Barstool, including Portnoy,. The company initially purchased 36% of the website in 2020 for $163 million in a deal that combined sports gambling. PENN and Barstool Sports initially announced an exclusive sports betting and iCasino partnership in January 2020, with PENN acquiring 36% of Barstool Sports. 5 billion in cash and sold Barstool Sports back to founder Dave Portnoy. June 29, 2023. By. So just as anti-P. Chernin Group will retain 36 percent ownership. While gun ownership does fall along partisan lines, the poll also found that in November, 66 percent of Republican voters surveyed said that they or someone in. Because there may be other owners of a subsidiary that are external to your organization's consolidation structure, the total ownership and control percentages for a particular subsidiary can be less than 100. An option to buy controlling ownership will be determined at that time. The urgency. 29. And there are engagement bonuses when people use codes. Barstool Employee Group valued at $21mm with Dave at $14. Barstool Sports is a digital sports, entertainment and media platform that delivers original content across blogs, podcasts, radio, video and social. 4, PENN had announced its decision to purchase $62 million worth of Barstool Sports common stock to raise its. Site keeps logging me out and then location doesn't work. For instance, using the scenario above, if the company. Penn National Gaming saw its stock price drop 21 percent after allegations of sexual misconduct against the Barstool founder. With Portnoy having 100 percent control over editorial, Nardini came in to oversee the entire. Don't get me wrong, I'd love to see it. Penn paid about $388 million for the remaining stake in Barstool Sports that it doesn't already own, the sports and entertainment company said Friday. 3. For its size, Barstool is a solid company to own. percentages are, what they based on, and how they are applied. TL;DR - On January 28, 2020, the Company (Barstool) desires to issue to Daniel Katz 141,669 shares at a price of $. Bonus bets have a 1x playthrough requirement before you can cash out. barstool ownership percentages. 11 per BC share (the SEC filing literally calls them “Katz compensation shares”). Warrants: 600,000. Penn National Gaming acquired a 36 percent share of Barstool on Jan. 72, in Thursday trading. It completed a full. Still, that resulted in a net loss of $16. According to the filing, he was issued 141,669 shares of Barstool pre-closing, then PNG bought all of those shares for $49. 12. Penn National will pay $163 million for a 36 percent stake in Barstool in the deal valuing the website at about $450 million, the gaming firm. Penn National will increase its ownership in Barstool Sports to approximately 50% after three years (or earlier, at Penn National’s election) with an incremental investment of approximately $62 million, consistent with the implied valuation at the time of the initial purchase, and has a path to establish control and full ownership of. When known as Penn National Gaming in February 2020, it initially closed on a deal to purchase 36% of Barstool Sports for $163 million. The purchase of the remaining Barstool share will be completed by February 2023. 11/9/23 11:30 AM. Editor-in-Chief at Barstool Sports. Conservatism portal. Barstool Sports, Inc. Kevin Clancy Kevin Clancy Biography and Wiki. If Barstool was on the open market it would be massive money. The conference call number is 212-231-2913; please call five minutes in advance to ensure that you are connected prior to the presentation. Under the agreement, Penn will be Barstool Sports’ exclusive gaming partner for up to 40 years and have sole rights to use the Barstool Sports brand for online and retail sports betting and online casino products. Jun 3, 2021; Miami Beach, Florida, USA; Bar Stool Sports founder Dave Portnoy stands in the ring at World Famous 5th St. To recap: Portnoy gets hundreds of millions of dollars via the original Penn Gaming sale — albeit not all $551 million, since an outside investor owned 51% — and less. 20% is 20/100, that is, 1/5 of the number. S. PENN had purchased a stake in Barstool for 36 percent of the company in January of 2020 - increasing their stake to about 50 percent by 2023. Kevin started hosting several podcasts, including KFC Radio, Barstool Radio, and The Rundown. In three years - or sooner, depending on certain circumstances - Penn National Gaming will increase its ownership to 50 percent and eventually establish full ownership of Barstool, thanks to an. Penn Enteratinment first acquired a 36 percent stake in Barstool Sports in February 2020 with a push into the world of online gambling. Penn also received the right to acquire full ownership afterward of the sports media property then valued at $450M. Sources say The Chernin Group, which currently.