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Forum » Dave Portnoy sold Barstool-made around $250 M, bought it back for $1 a year later
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Thread: Dave Portnoy sold Barstool-made around $250 M, bought it back for $1 a year later

post 1688236343 08-12-2023, 02:29 PM
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Dave Portnoy sold Barstool-made around $250 M, bought it back for $1 a year later

Very strange situation. Dave sold 30% of Barstool a few years ago, then some more of it 2 years ago, and then the rest of it earlier this year to Penn Gaming. Total cost to Penn was about $350 M.

He then buys it back from them 6 months later for the grand total of $1.

Penn bought Barstool to assist in the gaming and gambling venture and Barstool and especially Dave were just not a good fit as the gaming commissions and regulators were always watching him like a hawk.

So Penn sells it back to Dave for nothing with a non compete clause and if he ever sells it again Penn gets 50%.

I mean think of that. Portnoy cleared $250 M for basically doing nothing. Very shrewd deal.

Penn then turns around and does a multi $billion deal with ESPN.

Only thing I don't like with him is a few days ago in his emergency press conference he said he was going to hang onto the Penn stock that he owns and yet yesterday he filed a SEC filing saying he is going to sell $30 M worth of Penn stock. Penn stock nosedived right after. I think it is lower now than when Penn announced the deal with ESPN....which is hard to believe.

https://www.celebritynetworth.com/ar...-for-a-dollar/
Words to live by...."You're at the shopping mall with your girl but a hot chick walks by. Are you going to look at the hot girl? No. You use your peripheral vision."
post 1688236473 08-12-2023, 02:33 PM
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Man got paid. Nice!
I'm stronger when I'm drunk!
post 1688236513 08-12-2023, 02:34 PM
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Nobody cares, racist.
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post 1688236583 08-12-2023, 02:35 PM
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That was actually a pretty well written article
post 1688236643 08-12-2023, 02:35 PM
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5.9/10 thread
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Neg on site for reddit and tiktok threads dedsrs
post 1688237213 08-12-2023, 02:43 PM
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one bite, everybody knows the rules
dave is a stud
wonder if penn was able to write off barstool as a loss
just looked it up:
Penn says it will write off between $800 million to $850 million on Barstool, greater than the $551 million total it paid for Barstool, with the difference likely being additional tax benefits the company received. Portnoy, however, leaves Penn very wealthy.
makes perfect sense
mirin' big business dealings
post 1688237223 08-12-2023, 02:43 PM
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Just another jewish deal that's on the up and up. Don't think to hard about it.
post 1688237323 08-12-2023, 02:45 PM
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I dont really fully understand what barstool even is.

Seems to me its just a bunch of guys who sit around bsing all day and getting paid.
"To be a warrior is not a simple matter of wishing to be one. It is rather an endless struggle that will go on to the very last moment of our lives. Nobody is born a warrior, in exactly the same way that nobody is born an average man. We make ourselves into one or the other."-- Carlos Castaneda
post 1688237653 08-12-2023, 02:51 PM
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Originally Posted By crupiea⏩
I dont really fully understand what barstool even is.

Seems to me its just a bunch of guys who sit around bsing all day and getting paid.
started off as a hand-to-hand sports paper
turned into a conglomerate for sports news
better than ESPN for the younger generation
as for "bunch a guys who sit around bsing all day and getting paid" - that's what all sports talk radio is really so you're right
post 1688237673 08-12-2023, 02:51 PM
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Originally Posted By crupiea⏩
I dont really fully understand what barstool even is.

Seems to me its just a bunch of guys who sit around bsing all day and getting paid.
Yup that is pretty much what it is. A blog company that has branched into video hosting all while just mainly talking about sports.

I never understood the valuation of it a year ago and I still don't. And I guess neither did Penn as they took a major bath on it.

Whomever did the deal for Penn should be fired. I am sure he was.
Words to live by...."You're at the shopping mall with your girl but a hot chick walks by. Are you going to look at the hot girl? No. You use your peripheral vision."
post 1688237823 08-12-2023, 02:55 PM
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Originally Posted By crupiea⏩
I dont really fully understand what barstool even is.

Seems to me its just a bunch of guys who sit around bsing all day and getting paid.
it does piss me off when people make beaucoup bucks for contributing jack chit, but it is what it is.

the start was sports gambling, and then grew into what you said

seems portnoy caught the internet at the right time
post 1688238333 08-12-2023, 03:03 PM
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Originally Posted By propreffered7⏩
it does piss me off when people make beaucoup bucks for contributing jack chit, but it is what it is.

the start was sports gambling, and then grew into what you said

seems portnoy caught the internet at the right time
He absolutely did. He is not the smartest guy when it comes to book smarts but he has a good sense on what sells and what doesn't.

He knew the internet blogging thing would take off way back in 2010 or so and made that a priority. Paid off huge. He also is pretty funny and lots of people seem to gravitate to him.

Now has all the money he could ever need. 3 huge houses. Cars. All the gambling money he could ever want as he loves to gamble. He is also buying race horses...which are his true passion. He just bought one for $500 K.

And of course a 9/10 gf now after divorcing his pretty average (but ok) looking wife.


Words to live by...."You're at the shopping mall with your girl but a hot chick walks by. Are you going to look at the hot girl? No. You use your peripheral vision."
post 1688238373 08-12-2023, 03:03 PM
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Jew makes a killing off of stupid Goyim.

What is new.
post 1688238433 08-12-2023, 03:05 PM
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Originally Posted By OGfrom06⏩
Jew makes a killing off of stupid Goyim.

What is new.
He is about as non Jewish acting as a Jew can get....except for the making money part. Which is all that matters.
Words to live by...."You're at the shopping mall with your girl but a hot chick walks by. Are you going to look at the hot girl? No. You use your peripheral vision."
post 1688239333 08-12-2023, 03:23 PM
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Originally Posted By Unstumpable⏩
Just another jewish deal that's on the up and up. Don't think to hard about it.
Dave is Jewish? oh lord, lol. Once you start noticing, you can't go back.
The Era of Great Noticing has begun.
Modern liberalism is morally bankrupt and demonic.
Right wing politics is the new counter-culture.
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The 2nd Cold War has begun.
post 1688239413 08-12-2023, 03:24 PM
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Originally Posted By XterraRob⏩
Dave is Jewish? oh lord, lol. Once you start noticing, you can't go back.
Oh yeah the nose KNOWS.


But as I said he is the complete opposite of what I would call a normal acting Jew.
Words to live by...."You're at the shopping mall with your girl but a hot chick walks by. Are you going to look at the hot girl? No. You use your peripheral vision."
post 1688239543 08-12-2023, 03:27 PM
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Originally Posted By BeachPro11⏩
Oh yeah the nose KNOWS.


But as I said he is the complete opposite of what I would call a normal acting Jew.
Ah, an antisemite too.

Such a low life.
"I am a rational animal who occupies the intermediary position between angel and beast"

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post 1688240003 08-12-2023, 03:34 PM
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Anyone else want to kill themselves knowing you will never ever experience life in the way guys like this do.

Like they literally have no limits in what they can do.

Even if you careermaxx and make a mil a year you'll never have fuk you money
post 1688240173 08-12-2023, 03:36 PM
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Originally Posted By notbadnotbrad⏩
Anyone else want to kill themselves knowing you will never ever experience life in the way guys like this do.

Like they literally have no limits in what they can do.

Even if you careermaxx and make a mil a year you'll never have fuk you money
Thing is he came from nothing. Just a regular guy. Just found a niche and exploited it.

I give him all the credit in the world. Not only for building and selling it for $hundreds of millions, but then being able to buy it back for $1 less than a year later.

I mean think of that. Seems almost surreal. That kind of deal....that quickly after he sold it? Unheard of.

He was already super cocky and this has to make him think he is the biggest cawk to ever cawk.
Words to live by...."You're at the shopping mall with your girl but a hot chick walks by. Are you going to look at the hot girl? No. You use your peripheral vision."
post 1688240443 08-12-2023, 03:41 PM
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Originally Posted By BeachPro11⏩
Thing is he came from nothing. Just a regular guy. Just found a niche and exploited it.

I give him all the credit in the world. Not only for building and selling it for $hundreds of millions, but then being able to buy it back for $1 less than a year later.

I mean think of that. Seems almost surreal. That kind of deal....that quickly after he sold it? Unheard of.

He was already super cocky and this has to make him think he is the biggest cawk to ever cawk.
I agree w u

Same w the gym shark guy

Doesn’t make it easier realizing you’re a normie and always will be
post 1688240603 08-12-2023, 03:45 PM
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Originally Posted By BeachPro11⏩
Only thing I don't like with him is a few days ago in his emergency press conference he said he was going to hang onto the Penn stock that he owns and yet yesterday he filed a SEC filing saying he is going to sell $30 M worth of Penn stock. Penn stock nosedived right after. I think it is lower now than when Penn announced the deal with ESPN....which is hard to believe.
He clarified he's not actually selling any stock it was just a filing. Not sure if he's full of chit or not about that. But he has a big PENN position so doubt he'd do something to tank the price unless he was totally clearing out, which I don't believe is the case.

Yeah, their stock started at $24 and spiked to 33 after hours the day of the ESPN "deal." I shorted right under 33 and made 1.2k in like a few seconds. But would've been almost 10k if I held a few days. Fuuuck.

PENN is literally run by morons. They essentially flushed 800 mil on the Barstool deal and are now paying 1.5 billion to ESPN to essentially change the name of their sports betting from Barstool to ESPN. They're hopelessly behind FanDuel and DraftKings so this is setting even more money on fire although ESPN is obviously a more mainstream and bigger name than Barstool.
post 1688240743 08-12-2023, 03:47 PM
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Dave in all his glory haha.

This is the life so many MISCers dream about. A regular guy making it big.

Also watch his one bite pizza reviews. They are hilarious.




Words to live by...."You're at the shopping mall with your girl but a hot chick walks by. Are you going to look at the hot girl? No. You use your peripheral vision."
post 1688240813 08-12-2023, 03:48 PM
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I knew someone IRL who had a deal as big as the one in OP... the difference is that NO ONE knows who they are. They can go out to starbucks, cruise around the city, grab some food at the mall, and literally not one person will know them.

the GOAT life.
post 1688240823 08-12-2023, 03:49 PM
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Originally Posted By BeachPro11⏩
Dave in all his glory haha.

This is the life so many MISCers dream about. A regular guy making it big.

Also watch his one bite pizza reviews. They are hilarious.




Inspiring story, happy for him etc etc

Makes me want to rope still lmao
post 1688240893 08-12-2023, 03:49 PM
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Originally Posted By BeachPro11⏩
Dave in all his glory haha.

This is the life so many MISCers dream about. A regular guy making it big.

Also watch his one bite pizza reviews. They are hilarious.
That's awesome for dave. Wouldn't call his reviews "hilarious" though
post 1688241123 08-12-2023, 03:53 PM
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Originally Posted By Humungus⏩
He clarified he's not actually selling any stock it was just a filing. Not sure if he's full of chit or not about that. But he has a big PENN position so doubt he'd do something to tank the price unless he was totally clearing out, which I don't believe is the case.

Yeah, their stock started at $24 and spiked to 33 after hours the day of the ESPN "deal." I shorted right under 33 and made 1.2k in like a few seconds. But would've been almost 10k if I held a few days. Fuuuck.

PENN is literally run by morons. They essentially flushed 800 mil on the Barstool deal and are now paying 1.5 billion to ESPN to essentially change the name of their sports betting from Barstool to ESPN. They're hopelessly behind FanDuel and DraftKings so this is setting even more money on fire although ESPN is obviously a more mainstream and bigger name than Barstool.
Yeah I flipped it about 20 times the day the news came out. Made about $5 K but I thought the stock would react better than it did. Still surprised at the lowball reaction. IF it goes any lower I am loading up.

I posted this in another thread (not the main stock trading thread) but I have been heavily involved in BDPT. Penny stock. So far cleared about $75 K on it and am up another $100 K on it so far on my unsold positions. Have around 40 M shares at a .0013 average not including what I bought and sold for the past 2 months.

It has a lot of big players in it from IHUB and should have lots of news coming plus a nice share structure and dilution just ended. I think it could do 5 cents or more.

Closed Friday at .0036. Not .036. .0036 haha.
Words to live by...."You're at the shopping mall with your girl but a hot chick walks by. Are you going to look at the hot girl? No. You use your peripheral vision."
post 1688241203 08-12-2023, 03:54 PM
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Originally Posted By HMFIC_BROWSIN⏩
I knew someone IRL who had a deal as big as the one in OP... the difference is that NO ONE knows who they are. They can go out to starbucks, cruise around the city, grab some food at the mall, and literally not one person will know them.

the GOAT life.
What market/industry did he get into?
Words to live by...."You're at the shopping mall with your girl but a hot chick walks by. Are you going to look at the hot girl? No. You use your peripheral vision."
post 1688241283 08-12-2023, 03:55 PM
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Originally Posted By SynagogueDave⏩
That's awesome for dave. Wouldn't call his reviews "hilarious" though
I like his sense of humor. He is serious but thinks he is funny. I find that funny.

For example when he was in Italy when he tried to speak Italian. He knew like 2 phrases and used them over and over and over........and over.
Words to live by...."You're at the shopping mall with your girl but a hot chick walks by. Are you going to look at the hot girl? No. You use your peripheral vision."
post 1688241383 08-12-2023, 03:57 PM
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Originally Posted By OPGenesis⏩
Nobody cares, racist.
I care
And not because I'm racist
RAW DOG CREW LIEUTENANT

ALL ROADS LEAD TO MENTZER

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Gay Phaggot Crew:
Papi Cholo
post 1688241433 08-12-2023, 03:58 PM
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Originally Posted By BeachPro11⏩
What market/industry did he get into?
Grocery stores LMAO.

Not glamorous, but ho lee fuk... I just googled the name out of curiosity and there is virtually nothing.

Portnoy can't even wipe his angus without being forced to give a selfie with a fan.
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