Earlier this year, Penn Entertainment acquired the remaining interest of Barstool Sports for $388 million after previously securing 36 percent of the company back in 2020. It was quite a lucrative deal, but Dana White thinks the move ultimately spells bad news for the future of Barstool.
During an appearance on The Pat McAfee Show this week, White warned McAfee and other entrepreneurs and creators against allowing corporate “suits” to take over their businesses. White used Barstool Sports as an example, claiming the company is “turning into a corporate f***ing s***show” after the Penn acquisition.
“I would much rather do this show than any of the linear TV shows out there,” White told The Pat McAfee Show. “It’s much, much better. Let me tell you what, once you start to get suits involved in your business and these f***ing corporate guys who think know what they’re f***ing doing … and most of them don’t know jack s***. You’re gonna see it with Barstool over the next couple of years too. They’ve came in and they bought it out, they bought Portnoy out. I had a situation yesterday with Barstool and it’s turning into a corporate f***ing s***show too. It’s what happens when you get these f***ing suits involved in your business.”
It’s worth noting that White has had his own experience handing over a company to corporate suits after he and business partners Frank and Lorenzo Fertitta sold UFC to Endeavor back in 2016 and eventually partnered with ESPN for a massive broadcast deal.