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Selling a company for $500 million and buying it back for $1 sounds impressive, but what is he actually buying? Did ESPN roll the actual business and audience into their own system and then just sell him the brand name?

This is also a huge footnote:

> Portnoy also agreed to give Penn 50 percent of the proceeds from any future sale of Barstool Sports

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I think they’re just getting ridding of the Sportsbook and partnership so barstool goes back to privately owned content generation rather than content + Sportsbook.

That's right. An analysis I read said that the contract to give the company back to Portnoy specifically forbids him from running a sportsbook. He cannot in anyway compete with what Penn is doing. Again, according to the analysis I read.

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