Barstool Sports CEO Erika Ayers Badan Resigns
Under her leadership, the company's revenue grew by over 5,000% and expanded into new business areas.
- Erika Ayers Badan, CEO of Barstool Sports, announced her resignation after leading the company since 2016.
- During her tenure, Barstool's revenue grew by over 5,000%, and the company expanded its business beyond blogging, entering into partnerships with brands and entering the sports betting industry.
- Barstool was acquired by Penn Entertainment in 2020, which bought a 36% stake for $163 million, and then the remaining stake in 2023 for $388 million.
- In August 2023, Penn sold Barstool back to its founder, Dave Portnoy, for $1, and announced a $1.5 billion deal with ESPN to license its brand for sports betting products.
- Ayers Badan has not announced her future plans, but stated she feels the work she came to do at Barstool is done.