There may not be a better bargain than what Dave Portnoy paid to buy back Barstool Sports from Penn Entertainment.
Portnoy paid a mere $1 to take back the sports media behemoth on Tuesday, according to a new securities filingIt pales in comparison to what Penn Entertainment paid to acquire Barstool Sports, which amounted to a $551 million deal that was completed earlier this year.
Penn Entertainment also agreed to “indemnify Barstool and its subsidiaries and David Portnoy for certain tax matters.”
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