Barstool Sports, DraftKings Rumored to Be in Partnership Talks
David Portnoy’s Barstool Sports and DraftKings (NASDAQ: DKNG) are reportedly inward forward-looking discussions regarding a marketing partnership that could see to it the sports media entity reenter the betting space next its recent split up from William Penn Entertainment (NASDAQ: PENN).
Sportico reported earliest today that Barstool Sports and DraftKings are negotiating “a to a greater extent traditional marketing partnership” that would consider Portnoy’s companionship elevate DraftKings odds and touch readers and viewers to the operator’s online sportsbook. Nothing is functionary as of yet, but it’s believed a trade could follow worth N of $10 meg yearly to Barstool.
While sports wagering is noneffervescent a subject of give-and-take on Barstool, Portnoy’s company hasn’t been able-bodied to signal a betting marketing accord with another manipulator since he reacquired the business from Penn utmost August.
After paying $551 million to buy Barstool Sports, Penn dumped the business organization after inking a sports betting deal with ESPN. Portnoy paid just $1 to buy back up his “baby” while the regional gambling casino operator suffered a write-down of $850 related to to the Barstool purchase.
Possible Oversight By Penn
The agreement betwixt Penn and Portnoy under which he regained verify of Barstool Sports contained a supply that the gambling casino manipulator would be entitled to 50% of the political economy should he sell the media outlet to another gaming company.
However, he’s non marketing Barstool to DraftKings. He’s said he won’t over again sell his company. However, it’s believed that Penn stipulated Barstool follow content to a non-compete clause of simply 6 months followers the business deal with Portnoy. That could amount to an oversight that’s pavage the path for an organisation with DraftKings.
On a related note, Sportico reported that the detachment accordance with Penn included a provision that barred Barstool Sports from getting backward into the betting scene of action before the remainder of the stream NFL season. The Super Bowl is on Sunday, Feb. 11, signification if Barstool and DraftKings are inward talks today, a trade won’t live revealed until after the bighearted game.
While Barstool hasn’t had direct ties to a sportsbook manipulator inward several months, sports wagering cognitive content remains a cornerstone for the outlet, indicating it was simply affair of time before the publishing teamed upwards with another gaming company.
Barstool Sports, DraftKings Deal Would Make Sense
DraftKings is said to have got benefited from William Penn teaming upwardly with ESPN because the manipulator had what was believed to live an expensive relationship with the sports network.
There are reasons wherefore a Barstool Sports/DraftKings partnership makes sense. Those include the point in time that both companies experience capital of Massachusetts roots. That’s where DraftKings is based and that’s where Portnoy started his company.
Additionally, DraftKings has shown a knack for savvy media deals. In 2021, the gaming companionship acquired the Vegas Stats & Information Network (VSiN) and reached a dispersion pact with Meadowlark Media, which is the possessor of Dan Le Batard’s web of shows.
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