CEO of Barstool Sports, Erika Ayers Badan, Steps Down After Eight Years

Erika Ayers Badan, who has been leading Barstool Sports as its CEO since July 2016, has made the surprising decision to step down from her role. This announcement has sent shockwaves through the world of sports media.

In a heartfelt blog post confirming her exit, Ayers Badan did not disclose whether Barstool has chosen a successor for her position. She expressed her deep appreciation for the journey they had undertaken together, emphasizing that Barstool has always embodied authenticity and unapologetic growth.

During her tenure, Barstool Sports achieved remarkable milestones, surpassing their five-year goals in just 20 months. Revenue soared by a staggering 5,000% since July 2016, accompanied by significant audience growth. Ayers Badan credited the visionary founder of Barstool, David Portnoy, for their success. Portnoy transformed the company from a weekly print publication into a dominant digital media entity.

This announcement comes shortly after David Portnoy reacquired the Barstool brand from Penn Entertainment, which had purchased it in 2020. Penn's partnership with ESPN led to the rebranding of Barstool sportsbooks under the new ESPN Bet name in November 2023, terminating the Penn-Barstool association. The deal involved Penn selling the brand back to Portnoy for a nominal sum of $1, along with certain contractual obligations.

While Penn reported a substantial loss in the third quarter due to this transaction, the long-term prospects appear promising, given the estimated value of the ESPN-Disney partnership at approximately $1.50 billion. ESPN's vice-president of sports betting, Mike Morrison, views the launch of ESPN Bet as a natural progression for the sports broadcaster, signaling a new era in the sports betting sector.