Barstool Sports founder and CEO David Portnoy announced on Thursday that he has sold the majority stake in his company.
Barstool Sports was purchased by The Chernin Group, which was founded by Peter Chernin in 2009. Portnoy informed his readers of the investment in one of his famous “Emergency Press Conferences,” during which he referred to Chernin as the “big swinging d— at the cracker factory.” Naturally, someone updated Chernin’s Wikipedia page accordingly.
Portnoy said that he is no longer the majority owner of Barstool but insists the company will be even better. Barstool has grown a very loyal following over the past several years, so we doubt the new guy in charge plans on changing much.
If you remember, Portnoy and his cronies were the ones who were arrested in New York during the NFL offseason for protesting Tom Brady’s suspension outside NFL headquarters. Portnoy later found his way on camera during an ESPN broadcast outside one of Brady’s hearings and bashed the network.
Ironically, the announcement from Barstool came on the same day The Cauldron published a story entitled “How Barstool Sports Uses Social Media as a Weapon.” Portnoy and his staff went back and forth with The Cauldron founder Jamie O’Grady on Twitter throughout much of the morning, and Portnoy sent the following tweet after revealing his big news:
Hey @JamieOGrady I'm not sure if you heard or not but I made millions today.
— David Portnoy (@stoolpresidente) January 7, 2016
While Barstool has been scrutinized countless times for its inappropriate content, I’d be lying if I said I haven’t been a fan since my high school days. Congratulations to Portnoy and his crew. You can see the full announcement below:
