- Portnoy says he was supplied unidentified function at Commerce
- He turned it down as a result of he would’ve needed to cede management of Barstool Sports activities
Barstool Sports activities founder David Portnoy mentioned he was not too long ago supplied an unidentified function on the Commerce Division.
Barstool Sports activities founder David Portnoy. He mentioned he was supplied a job on the Commerce Division. (Photograph by Adam Glanzman/Getty Pictures)
He mentioned the problem in a video posted earlier at present on his Davey Day Dealer World (DDTG) social media channel. DDTG is Portnoy’s fictional buying and selling home that he shaped in the course of the early days of the coronavirus pandemic when he grew to become a frequent short-term equities dealer.
I obtained a name, I don’t know, a few months in the past, and it was like ‘Hey, would you’ve got any curiosity Dave in becoming a member of the Division of Commerce beneath (Secretary Howard) Lutnick,’” mentioned Portnoy.
He didn’t say what his function on the division would’ve been had he accepted nor did he establish whom from the White Home reached out to him. Former Cantor Fitzgerald Chairman and CEO Lutnick was nominated by President Trump to run the Commerce Division and confirmed to that function.
Portnoy True to His Phrase About Operating Barstool
Within the DDTG video, Portnoy mentioned the Commerce Division job supply got here with the situation that he must discover another person to run Barstool Sports activities whereas he was working for the federal government. He indicated that was one of many causes discussions didn’t advance past casual levels.
That’s an indication Portnoy is being true to his phrase relating to management on the media entity. When Portnoy purchased again Barstool for $1 from Penn Leisure in August 2023, he pledged that he would preserve management of the corporate on a everlasting foundation and it could by no means once more be offered.
In a multi-part deal, Penn paid $551 million for Barstool Sports activities, finalizing the deal in February 2023. Six months later, that relationship ended when the regional on line casino operator introduced a $1.5 billion take care of Walt Disney’s (NYSE: DIS) ESPN to make use of the ESPN Wager trademark. As much as that time, the gaming firm had used Barstool branding for its on-line sportsbook and a few retail places.
In the present day, Barstool’s gaming inroads are derived largely from sports activities wagering content material, together with Pornoy’s proclivity for publicizing his personal massive wagers, and a advertising relationship with DraftKings. In his X profile, Portnoy describes himself as “a DraftKings man.”
Some Musk Comparisons
Within the video, Portnoy mentioned Elon Musk’s function helming the newly created Division of Authorities Effectivity (DOGE), acknowledging some degree of wonderment about how Musk is balancing obligations to Tesla — the electrical automobile maker of which he’s the chief government officer — whereas working DOGE.
In a latest Fox Information interview, Portnoy, who mentioned he helps DOGE’s mission, mentioned Musk ought to get again to specializing in Tesla as a result of the inventory is tumbling.
“You form of need your CEO with the attention on the ball,” mentioned Portnoy within the DDTG video.
