Just how much did Dave Portnoy pay to buy back Barstool Sports from Penn Entertainment?

According to a new securities filing, Portnoy acquired the sports media brand he founded for just $1.

Of course, there are other pieces to the deal, but the shocking sale price (Penn spent $551 million to acquire Barstool) makes for an interesting end to that relationship. Penn says that it expects to record a loss of between $800 million and $850 million on the deal.

Penn of course announced a deal with ESPN to rebrand its Barstool Sportsbook as ESPN Bet, and will pay ESPN $1.5 billion and $500 million in stock warrants for the privilege.

That meant abandoning the Barstool brand, which it acquired in full just earlier this year (it initially bought a stake in 2020).

“Pursuant to the Barstool Spa, Penn sold 100% of the outstanding shares of Barstool to David Portnoy in exchange for a nominal cash consideration ($1.00 dollar...