Barstool has triumphantly announced a pivotal agreement with industry titan DraftKings, crowning the latter as the official sports betting partner for the influential sports and pop culture blog. This revelation came to light following a blog post by Barstool’s charismatic founder, David Portnoy, which was released right on the heels of the exhilarating Super Bowl LVIII event last night, on February 11.
A notable aspect of this latest business move is that it is not the first instance of collaboration between DraftKings and Barstool. They previously shared a marketing initiative a decade ago, an early embrace of the growing synergy between sports media and betting platforms.
In a statement brimming with a sense of homecoming, Portnoy conveyed his enthusiasm: “I’m proud to announce Barstool has signed a multi-year monster deal with DraftKings,” Portnoy declared. “We’re back to our roots. DraftKings is once again the exclusive sports betting partner of Barstool Sports. The more things change the more they stay the same.”
As of the moment, DraftKings has remained silent on the subject, possibly strategizing the best way to communicate this renewed partnership to their broad customer base and stakeholders.
The deal comes at a pivotal time as it was only a few months ago that Portnoy reacquired the Barstool brand from Penn Entertainment, who previously bought the brand in 2020 and was operating sportsbooks under the Barstool name. Importantly, the collaboration between Penn and Barstool concluded last August when Penn forged a landmark partnership with sports juggernaut ESPN, signaling ESPN’s much-anticipated entry into the sports betting arena after years of speculation and anticipation. Consequently, this venture signaled the cessation of the Penn-Barstool deal.
In a transaction reflective of the intricate economics within the industry, Penn agreed to re-transfer ownership of the Barstool brand to Portnoy for a symbolic $1. The deal included provisions for “certain non-compete and other restrictive covenants,” underlining the strategic interests involved. This marked a return full circle for Portnoy to the helm of the brand he originally launched in 2023.
Following this corporate shuffle, Penn’s existing Barstool sportsbooks took on a new life, rebranding as the ESPN Bet on November 14, under the vast and influential Disney-owned ESPN banner.
Another significant development shaking up the Barstool enterprise is the departure of Erika Ayers Badan, who announced last month in a blog post her resignation as CEO after nearly eight years steering the company. Ayers Badan’s tenure saw her bring extensive experience from previous high-level positions with companies like Bkstg, AOL, Demand Media, and Yahoo. The company has not yet released any information regarding her successor, leaving open speculation about who will guide Barstool into its next phase.
The deal between Barstool and DraftKings, thus, represents a significant realignment in the sports betting industry, potentially heralding future developments in the fast-evolving landscape where media companies and betting entities continue to merge and adapt to a digitally-driven environment where engagement and interactivity with fans are ever more crucial.
Barstool, reborn through Portnoy’s reclaiming and now allied with DraftKings once more, sets a stage for aggressive growth and expansion in the competitive field of sports betting. This partnership promises to offer sports enthusiasts and bettors an enriched experience filled with the distinctive flavor that Barstool is known for, combined with the innovative betting platforms provided by DraftKings.
