Dave Portnoy Paid $1 (Yes, One Dollar) to Buy Barstool Sports Back From Penn, Which Will Take Up to $850 Million Charge for Disposal of Business

Dave Portnoy had said he had bought Barstool Sports, the brash sports and pop-culture media company, for “pennies on the dollar” from Penn Entertainment. In fact, Portnoy paid 100 pennies for Barstool. That’s after Penn Entertainment paid a total of $550 million to acquire Barstool. “Penn sold 100% of the outstanding shares of Barstool to David […]