Few media brands have changed hands as dramatically as Barstool Sports, one of the loudest names in sports media. It started as a free paper handed out in Boston and was sold to a private equity group. A casino company then bought it for hundreds of millions of dollars, and it went back to its founder for exactly one dollar. Here is who owns it today and how it got there.
Who Owns Barstool Sports in 2026?
Barstool Sports is owned by its founder, Dave Portnoy, who holds 100% of the company. He took it back from Penn Entertainment in August 2023. Recent coverage, including a November 2026 Yahoo Finance piece and a creator index updated in late October, still describes him as the sole owner.
The company is private, so there are no public shareholders and no outside equity investors. That is unusual for a media brand this size. Even a founder-led company like Newsmax is publicly traded, with its founder holding control through super-voting shares.
Ownership and Key Stakeholders Table
| Owner / Party | Role | Stake | Key Detail |
|---|---|---|---|
| Dave Portnoy | Founder and owner | 100% of Barstool Sports, Inc. | Bought it back from Penn for $1 in August 2023 |
| Penn Entertainment | Former owner (2020–2023) | No equity | Paid about $551 million in total; kept a right to 50% of gross proceeds from a future sale |
| The Chernin Group | Former majority owner (2016–2020) | No equity | Bought control at a reported $10–15 million valuation |
| Fox Sports | Distribution partner | No equity | Wake Up Barstool on FS1; Portnoy removed from Big Noon Kickoff in October 2026 |
| Netflix | Distribution partner | No equity | Video rights to three podcasts, reportedly worth eight figures a year |
| Gallo | Licensee | No equity | Makes Pink Whitney under license from Barstool |
| Public shareholders | None | 0% | Barstool is a private company |
The Origin Story: A Free Paper in Boston
Dave Portnoy launched Barstool in 2003 (some profiles say 2004) as a free sports paper in the Boston area, according to Wikipedia’s Barstool page. He reportedly handed it out at subway platforms and street corners. The same page notes the brand spread to five cities by 2013 and later bought the blog Old Row Sports and the amateur boxing event Rough N Rowdy.
In early 2016, The Chernin Group bought a majority stake, as Variety reported, at a reported valuation of $10–15 million. Portnoy kept running the site and held creative control. Chernin gave up control in 2020 when Penn arrived.
The Penn Years: From 36% to 100%
In February 2020, Penn National Gaming, now Penn Entertainment, bought 36% of Barstool for about $163 million. That was roughly $135 million in cash and $28 million in non-voting convertible preferred stock, according to Penn’s own press release.
On February 17, 2023, Penn closed the purchase of the remaining 64% for about $388 million. The total came to roughly $551 million, and the 64% price implied a value of about $606 million for the whole company. Penn wanted Barstool’s audience to power its Barstool Sportsbook app.
The $1 Buyback
Only months later, on August 8, 2023, Penn announced a $1.5 billion, 10-year sportsbook deal with ESPN and said it would sell Barstool back to Portnoy, as Axios reported. Portnoy paid $1, accepted a non-compete in sports gambling, and agreed that Penn keeps the right to 50% of gross proceeds if Barstool is ever sold or monetized again.
Penn said it would take a charge of up to $850 million on the disposal, according to Variety. Penn CEO Jay Snowden told CNBC that Portnoy was the only “natural owner” for the brand long term.
Barstool Sportsbook became ESPN Bet that fall. After the ESPN partnership ended early, Penn rebranded the app as theScore Bet on December 1, 2025, according to a 2026 sportsbook ownership explainer.
What Portnoy Has Built Since
Since the buyback, Portnoy has leaned on distribution deals rather than selling equity. In July 2025, Barstool announced a wide-ranging partnership with Fox Sports, including the daily show Wake Up Barstool on FS1. Fox Sports belongs to the Murdoch-controlled Fox Corporation.
On October 3, 2026, the AP reported that Portnoy and Barstool would no longer appear on Big Noon Kickoff. Wake Up Barstool is still airing on FS1, as Awful Announcing noted this week.
Netflix also licenses video versions of Pardon My Take, Spittin’ Chiclets and The Ryen Russillo Show in a multiyear deal reportedly worth eight figures a year, per Front Office Sports. Barstool has also moved into the food and beverage world, most visibly with Pink Whitney, the flavored vodka Gallo makes under license. None of these deals gives outsiders equity in Barstool.
Can Barstool Be Sold Again?
Technically yes, but Penn’s 50% claim on gross proceeds would take half of any sale price. Nothing in current reporting suggests a sale is planned. Barstool also does not publish revenue or profit, so there is no verified current valuation.
Frequently Asked Questions (FAQs)
Q1. Who owns Barstool Sports in 2026?
Dave Portnoy owns 100% of Barstool Sports.
Q2. How much did Portnoy pay to buy Barstool back?
He paid $1 in August 2023, plus a non-compete and a 50% proceeds clause for Penn.
Q3. How much did Penn Entertainment pay for Barstool?
Penn paid about $551 million in total, $163 million for 36% and $388 million for 64%.
Q4. Who owned Barstool before Penn?
The Chernin Group held a majority stake from early 2016 until 2020.
Q5. Is Barstool Sports publicly traded?
No, Barstool Sports is a private company with no public shareholders.
Q6. Does Penn still own any part of Barstool?
No equity, but Penn kept the right to 50% of gross proceeds from a future sale.
Q7. Is Dave Portnoy still on Big Noon Kickoff?
No, the AP reported on October 3, 2026 that he and Barstool were pulled from the show.
Q8. Does Barstool own Pink Whitney?
No, Gallo makes it, and Barstool licenses the name and designs.
Barstool Sports is 100% owned by founder Dave Portnoy. He sold it in two steps to Penn Entertainment for about $551 million, then bought it back for $1 in August 2023. Penn kept a right to half of the gross proceeds from any future sale, and The Chernin Group is long gone from the cap table.
Today Barstool runs on partnerships with Fox, Netflix and Gallo rather than outside investors. For a brand that nearly became a casino company’s side project, that is a remarkable comeback.
Official website: barstoolsports.com
