Barstool Sports Founder Bought It Back for $1—Here’s Dave Portnoy’s Net Worth Now

Barstool Sports founder Dave Portnoy recently bought his company back—for exactly $1. On Tuesday, Penn Entertainment (PENN), Barstool’s previous parent company, sold 100% of outstanding Barstool shares back to Portnoy “for a nominal cash consideration ($1.00) and certain non-compete and other restrictive covenants,” according to a filing by the company. 

Penn Entertainment expects to lose $800 million to $850 million in the sale. If Portnoy ever sells Barstool again, Penn now has the right to receive 50% of the gross proceeds. However, in a video he posted to X announcing the deal, Portnoy said he is “never going to sell Barstool Sports.”