Barstool Sports Signs Major Deal with UTA for New Revenue Opportunities
Barstool Sports, along with its founder Dave Portnoy, has inked an important deal with the talent agency United Talent Agency (UTA). This signs a pivotal move for Barstool Sports, which was reacquired by Portnoy less than a year after being sold back by Penn Entertainment.
Expanding Revenue Streams
The partnership with UTA aims to leverage the agency’s extensive network and resources to create new revenue-generating opportunities for Barstool Sports and its diverse array of personalities and media products.
This move comes after Barstool secured a substantial affiliate deal with DraftKings, highlighting its ongoing efforts to find lucrative partnerships following its separation from Penn.
Barstool has a history of successful partnerships in various industries. Notably, the company has worked with New Amsterdam Spirits Company on the Pink Whitney alcoholic beverage and with Happi Foodi to produce One Bite frozen pizzas, based on Portnoy’s popular pizza reviews.
The deal with UTA is expected to open doors for similar collaborations, capitalizing on Barstool’s strong brand and loyal following.
Financial Context and Future Plans
According to financial reports from Penn Entertainment, Barstool Media incurred a $16 million loss in the first half of 2023. The new deal with UTA is part of Portnoy’s strategy to reverse these losses and explore profitable ventures.
Despite the financial challenges, Portnoy remains committed to maintaining control of the company, emphasizing that he has no intention of selling it again.
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