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ESPN Shoves Barstool Apart to Strike Sports activities Betting Pact

ESPN muscled apart the upstart Barstool Sports activities and struck a serious sports-betting pact with operator Penn Leisure that may put the Disney-owner sports activities big into gaming and wagering in a serious approach.

Below phrases of the deal, Penn can pay has $1.5 billion in money to ESPN over a ten-year time period and grant ESPN roughly $500 million of warrants to buy roughly 31.8 million Penn frequent shares that may vest ratably over 10 years, in trade for media, advertising companies, model and different rights. Penn, which purchased 36% of Barstool Sports…

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