Barstool Sports is nearing a mega-deal with a new betting partner.
According to Sportico, Dave Portnoy’s company is discussing a partnership with DraftKings Sportsbook that should pay out eight figures a year.
The deal hasn’t been signed or announced as yet because of previous contractual obligations with PENN Entertainment and likely won’t be before the end of the current NFL season. But Barstool is on the verge of a contract that would see them rake in huge profits in exchange for hosting DK odds and promoting the betting platform.
The outlet will not be lending its name to the sportsbook, however, DK will make use of Portnoy, as well as other talent from Barstool such as Big Cat and Frank The Tank.
“The sale back to Portnoy included “certain non-compete and other restrictive covenants,” Penn said at the time. It included a clause that Penn would receive 50% of the gross proceeds if Portnoy sells the company in the future. Barstool is also prevented from getting back into betting before the end of this current NFL season and playoffs, according to sources.”
It’s understood that the deal will rival the likes of what other media platforms have landed with betting companies. Dan Le Batard’s Meadowlark Media came to a $50 million understanding with DraftKings while FanDuel has another significant deal in place with Bill Simmons’ The Ringer.
Portnoy bought Barstool back for just $1 after selling it to PENN for $388 million. The latter ate the loss but has since struck a 10-year deal with ESPN worth $1.5 billion over the novel ESPN BET.
News
Ex-NFL Player Johnny Manziel Issues Apology to Drake for ‘Letting Him Down. tt
The 6 God endorsed the Heisman trophy winner on his 2014 track “Draft Day. Johnny Manziel, once hailed as an NFL star, admitted to falling short of…
Kountry Wayne publicly declared his love for Jess and revealed that social media helped him earn $20M. tt
Kountry Wayne publicly declared his love for Jess and revealed that social media helped him earn $20M Actor Praised for This Joins Shannon Sharpe on His Latest…
Mo’Nique “candidly” exposes her past of being “discriminated” before coming to Oscar glory” tt
From Comedy Clubs to Oscar Success: Mo’Nique Opens Up About Career, Family, and Industry Struggles On ‘Club Shay Shay,’ hosted by former NFL star Shannon Sharpe, Mo’Nique,…
According to reports, Jason Kelce’s wife is “deeply” offended by his controversial nickname. tt
Jason and Kylie Kelce have been tied to each other for some time. Kylie’s connection to the NFL began in 2015 when she started dating Jason, who…
Breaking: “Plus-Size” OF Model Sues Tyreek Hill, Says Dolphins WR Broke Her Leg After She Embarrassed Him During Backyard Football Game. tt
NFL superstar Tyreek Hill broke plus-size influencer’s leg by charging at her with ‘crushing force’ after she humiliated him during practice football drills at his Florida mansion,…
After a picture of Jason Kelce’s 1-year-old daughter appeared online, the entire internet noticed the same thing (PIC) tt
Jason Kelce’s last daughter, Bennie, turned one this past weekend. The newest addition to the Philadelphia Eagles star and his wife Kylie’s family looks just like her dad and…
End of content
No more pages to load