Dave Portnoy is also known as "El Presidente" and "Stool Presidente" and is an unpopular figure in digital media and sports media. As the founder of Barstool Sports, he has virtually revolutionized how sports are reported today. Dave has created an empire that now includes multiple sites including podcasts, merchandise videos on demand, and more. Dave is also well-known for never giving up in fighting. He started a twitter battle with Congresswoman Alexandra Ocasio Cortez a few months back. Many reporters were against Portnoy, Barstool and all of it. The people who hate Barstool will be stunned today. It was revealed earlier in the day that Penn National Gaming Company had purchased 36% of Barstool, which is worth $450 million. Penn National will pay $163million in cash today. Penn National will pay $163 million in cash today. They have the option to put in $62 million over three years in order to increase their stake to 50 percent. This is not Barstool’s first major acquisition. In January the Chernin Group paid $10-15 million for 60 percent stake and also a $25 million investment in Barstool. After today's transaction, Penn National and Chernin will each own 36% stakes.
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