Penn acquired Barstool sports for $551 million but it was such a pain in the ass to run that they sold it back to Dave Portnoy for $0 and two guarantees
- 50% of the proceeds if he ever sells the company
- Barstool can’t get into the sports betting business
Imagine being so annoying to work with a company writes down half a billion dollars not to have to work with you again. 😂