Dave Portnoy’s future at Barstool Sports seems to be up in the air, with the founder of the digital media site considering to leave if he doesn’t reach an extension with parents company Penn Entertainment before his deal expires in 20 months.
In an appearance on ‘The Kirk Minihane Show’ earlier this week, Portnoy was asked if he had a end date to leave the company that he started almost 20 years ago in the Boston suburb of Milton, .
‘Well, no,’ said the 46-year-old. ‘My contract’s done in 20 months so.’
Barstool was fully acquired by Penn earlier this year after a $551million purchase was agreed upon with The Chernin Group.Penn first started its process to buy Barstool in 2020.
Portnoy revealed his contract’s expiration date while touching base on Dan Katz’s decision to open a Barstool office in Chicago in the next few months and bringing a dozen of employees from the New York office with him.
Dave Portnoy could leave Barstool in 20 months time, after founding the company in 2003
‘I think it’s great,’ Portnoy said.’Who knows where I’ll be in 3-4 years. I think Dan, which I would say is very good for Barstool, is clearly locked in for a very long time. He’s creating this huge fantasy factory there. I think it’s great for Barstool.’
Asked if there’s been any discussions with senior Penn executives over a new, long-term deal, Portnoy said: ‘There’s been some talk about it.Like you said [previously], who knows what they’re thinking at this point.’
Earlier in May, the founder of Barstool Sports claimed he did everything in his power to try to retain former company podcast host Ben Mintz, who .At the time, he added that he feared Mintz’s dismissal was a ‘death blow’ for planet88 the company, as Penn’s stock price significantly dwindled following a high-volume of backlash.
Portnoy’s clashed with Penn executives over several issues, including Ben Mintz’s firing in May
Portnoy said he disagreed with Jay Snowden, CEO of Penn, over Mintz’s sudden dismissal
However, in his appearance on ‘The Kirk Minihane Show, Portnoy was appreciative of his partnership with Penn CEO Jay Snowden, considering other gambling companies were hesitant to invest in the Barstool founder’s company due to his dodgy gambling habits.
Barstool finally obtained its gambling license in Massachusetts earlier this year after a lengthy and arduous process.
The company, however, is still forbidden from gambling activities in New York state.
Portnoy, 46, is unsure what’s next in store for him if he does eventually decide to leave Barstool
When asked about the potential scenario of Penn executives telling him its time to move on, Portnoy said he wasn’t sure what’s next in store, adding: ‘I go back and forth on that.’
The Celtics fan also brushed off claims that he he’ll start a new media business, though he does have other ideas on his mind.
‘Would I just do a podcast a week that’s totally unfiltered?Would I enjoy that? Maybe,’ Portnoy said. ‘There’s part of me that thinks I’d be like ”Ok I’m done.”’
‘I go through different things, the pizza stuff, I’d like to do longform, I enjoy doing that,’ he added. ‘Like a pizza show on Netflix where you’re doing like 15 minutes a spot.[…] I like doing it. It excites me.
‘I think it’d be wildly successful, like [Anthony] Bourdain of what I’m doing.’