Barstool Could Get Second Chance At Bills Stadium Naming Rights
“With sports betting legal in New York State, it could be argued that a naming rights deal for a stadium in the state makes more sense now for Barstool and parent company Penn National Gaming than it did in 2020.”
Two years ago, Barstool Sports made a bid to win the naming rights to the Buffalo Bills’ stadium. In the end, the digital sports brand lost out to Highmark Health Blue Cross Blue Shield of Western New York, but the team announced in March that a new stadium is on the way. That could pave the way for Dave Portnoy and company to make another bid.
Highmark has a deal to keep naming rights on the stadium through 2025. The company also has first right of refusal on the next deal, but with the new stadium not set to open until at least 2026, that leaves the door wide open. A spokeswoman for Highmark told Michael McCarthy of Front Office Sports that no deal regarding the current stadium’s naming rights will carry over to the new one.
Dave Portnoy said on Twitter that he was “very serious” about Barstool bidding for the naming rights to the stadium in August of 2020. He has not commented about any intentions Barstool would have for the new stadium. With sports betting legal in New York State, it could be argued that a naming rights deal for a stadium in the state makes more sense now for Barstool and parent company Penn National Gaming than it did in 2020.
Barstool, Highmark, or any other company that may be interested in putting their name on the new home of the Buffalo Bills are probably doing some PR math right now. The plan for the new stadium has been met with some resistance from the public as the $1.4 billion stadium plan is set to receive more than half of its funding from the public.
If the NFL bristles at Barstool, remember that in 2020, a bidet manufacturer called TUSHY also wanted to bid on the naming rights to the stadium. The company’s founder, Miki Agrawal, told McCarthy that she intends to bid again.
“We really think it would make a statement: ‘TUSHY Stadium’ with an annual ‘Toilet Bowl’ event. It would be so much fun,” Agrawal said. “Who wouldn’t want to go to an event called the Toilet Bowl? We’d get comedians there and do a fun comedy show and halftime.”
New Era pulled out of its naming rights deal with the stadium. That is what created the opening in 2020. At that time, Highmark won the naming rights over the next ten years at a cost of $5 million per year.
Dave Portnoy: I Trust Penn Entertainment as Much as Ever
“Dave Portnoy is still an employee of Penn Entertainment. However, he has said publicly that he is unsure if the arrangement will continue after his contract expires in 2025.”
Dave Portnoy may have had some public disagreements with Penn Entertainment, but he says that he still trusts the company to run Barstool. He took to Twitter earlier this week to dispel the myth that he is in a feud with the company.
“By the way everything I say or do nowadays is construed as me having beef with @PENNEntertain I 100% do not. Most of my net worth is still tied to $penn. The corporate woke overlord narrative is bullshit. They woulda never bought us in 1st place if that was true. I trust them now as much as when they bought us.”
Portnoy has not been shy about criticizing the company’s decision to fire Ben Mintz after Mintz said the n-word while reading rap lyrics. Several supporters, including Dana White, noted that it is the kind of decision that only happens when corporations take over creative enterprises.
Earlier this week, Dave Portnoy announced that he had hired Ben Mintz as the first employee of Brick Watch Company. Mintz was emotional in making the announcement. The decision was not made to stick it to Penn Entertainment according to Portnoy.
Penn first acquired a stake in Barstool in 2020. It invested $163 million at that time for a 36% stake. Earlier this year, it completed its acquisition, investing an addition $388 million for the remaining 62% of the company.
Dave Portnoy is still an employee of Penn Entertainment. However, he has said publicly that he is unsure if the arrangement will continue after his contract expires in 2025.
Multiple State Regulators Push Back on Effort to Legalize Gambling on WWE
“In March, Alex Sherman of CNBC reported that WWE had meetings with regulators in Colorado and Michigan.”
Despite speculation over allowing sports bettors to wager on WWE, there doesn’t appear to be much support at the state level to add it to sportsbook offerings.
Earlier this year, WWE officials had discussions with accounting firm Ernst and Young to secure pre-determined match outcomes in order to allow betting on events. But many states where sports betting is legal have restrictions on wagering on scripted events.
In March, Alex Sherman of CNBC reported that WWE had meetings with regulators in Colorado and Michigan.
“The Colorado Division of Gaming is not currently and has not considered allowing sports betting wagers on WWE matches. By statute, wagers on events with fixed or predicted outcomes or purely by chance are strictly prohibited in Colorado; this includes wagers on the Academy Awards,” Shannon Gray of the Colorado Division of Gaming told Sports Betting Dime.
In Ohio, the same rules apply. The Ohio Casino Control Commission has not fielded any requests to add WWE. Officials in Kansas haven’t received requests either by their residents.
Elsewhere, Maryland sees keeping WWE out of betting offerings as a way to keep the integrity of legal sports betting.
“Maryland’s sports wagering law and regulations prohibit forms of wagering that are contrary to public interest or unfair to bettors,” Seth Elkin of the Maryland Lottery and Gaming Control Agency added. “We’ve determined that it is unfair to bettors and therefore not in the public’s interest to accept wagers on sports entertainment events that have scripted or predetermined outcomes, like professional wrestling.”
Jordan Bondurant is a features reporter for Barrett Sports Media. He’s a multimedia journalist and communicator who works at the Virginia State Corporation Commission in Richmond. Jordan also contributes occasional coverage of the Washington Capitals for the blog NoVa Caps. His prior media experiences include working for the Richmond Times-Dispatch, the Danville Register & Bee, Virginia Lawyers Weekly, WRIC-TV 8News and Audacy Richmond. He can be reached by email at firstname.lastname@example.org or follow him on Twitter @J__Bondurant.
Former Twitter Sports Boss TJ Adeshola Joins Arctos Partners
“We’ve been fortunate to have TJ as an Operating Advisor for the past three years, and we are thrilled to have him play a larger role as an Operating Partner.”
Less than two months after TJ Adeshola announced his exit from Twitter, he has resurfaced. Arctos Partners, a firm that he had been advising, named Adeshola an operating partner on Thursday.
In the new role, Adeshola will be much more hands-on with the firm, a private investment company that focuses its investments in the sports world. The firm says it focuses on unlocking “non-obvious opportunities long before others have noticed the market need or opportunity”.
TJ Adeshola’s digital sports marketing expertise will certainly come in handy with that.
“We believe TJ is an innovator in emerging digital and sports media trends, and his wealth of knowledge is a tremendous resource for our Arctos Operating Platform, the value-added capabilities we provide to our franchise partners,” Arctos’s Jordan Solomon said in a press release. “We’ve been fortunate to have TJ as an Operating Advisor for the past three years, and we are thrilled to have him play a larger role as an Operating Partner.”
During his decade with Twitter, Adeshola served as the Head of U.S. Sports Partnerships. His title was Head of Global Content Partnerships at the time of his exit.
He is credited with securing broad strategic partnerships with the NBA, NFL, NHL, MLB and MLS as well as NASCAR, esports, college, and high school sports. He helped the platform grow the engagement and audience for those entities.
“I’m thrilled to expand my role with Arctos as an Operating Partner,” Adeshola added. “As the first investment firm to invest across multiple North American sports leagues, Arctos is an innovator and disruptor in the sports landscape. And true to form, the Arctos team recognizes the power of digital media as a tool for growth and an opportunity to drive value for its franchise partners.”