bar stool sport
After more than seven years at the helm of Barstool Sports, and following the company's ill-fated sale in 2023, Erica Ayers Badan announced Tuesday that she is stepping down as CEO.
Last summer, Barstool Sports founder Dave Portnoy bought the site back from casino and online gambling operator Penn Entertainment for $1. This comes after Penn Entertainment paid a total of approximately $550 million to acquire 100% control of Barstool, several months before deciding to part ways with Barstool.
“The past two years have been all about pens,” Ayers Badan wrote in a farewell message to Barstool staff. “It was a balancing act, an exercise in futility of sorts, trying to protect the pirate ship and generate wagers at the same time, while trying to create a more predictable, peaceful, predictable We tried to subtly skew the ship to things.'' Last year, we sold the company twice. First to Penn he gave $550 million, then to Dave $1. That seems insane, but it was. ”
Now, New York-based Barstool Sports is “back to where it was meant to be,” Ayers Badan wrote. “A pirate ship with Dave at the helm…I've accomplished what I came here for, but I've done more than I could have ever imagined. Now it's your turn to drive the ship forward.”
Ayers Badan added, “My time at Barstool will forever inspire me. I gave you everything. Thank you for giving me so much more.”
Ayers Badan (formerly Nardini) joined Walzstur in the summer of 2016, when the company was majority-owned by Peter Chernin's Chernin Group. She previously served as Chief Marketing Officer at AOL.
Portnoy said in a post on X/Twitter on Tuesday. I have written“There is no doubt that @erika_ was perfect and perhaps only the right fit for us. It's been quite a while, but we couldn't have done it without her. She is exactly what I dreamed of and… More than that, I became a CEO.”
In a memo to Barstool staff, Ayers Badan said: I liked Dave right away and trusted him…there is no one better than Dave to ensure that Barstool continues to exist in the future the way it was intended. ”
Ayers-Badan said that when she joined the company, “expectations were low and expectations of failure were probably high.” She claims that Barstool achieved her 5-year goal in 20 months and that as of today, she has increased revenue by 5000% since joining in July 2016.