A new era is looming at Barstool Sports as Erika Ayers Badan, the CEO, is stepping down from her role. Ayers Badan, 48, joined Barstool in 2016 and played a pivotal role in the company’s significant growth and expansion. The company, which was acquired by The Chernin Group at a valuation of $15 million, saw remarkable development under her leadership, eventually being acquired by PENN Entertainment for over $500 million between 2020-23. Last August, the company was sold back to founder Dave Portnoy for $1, following complications with state gambling regulators.

Barstool Sportsbook faced challenges in obtaining licensure in certain states, including New York and Massachusetts. The company’s irreverent brand proved to be a hurdle with state gambling regulators, and it faced issues with promotions and personnel, such as the controversy involving personality Ben Mintz. Despite these challenges, under Ayers Badan’s leadership, Barstool’s marketing scale expanded significantly, securing partnerships with prominent brands like Coors Lite and Pizza Hut.

Erika Ayers Badan, also known as Erika Nardini, brought her expertise from her previous role at AOL and her experience serving on WWE’s board to Barstool. She has been the host of the ‘Token CEO’ podcast, providing business advice to listeners. Barstool’s brand has gained mainstream popularity, particularly among the 18-34 advertising demographic, with a substantial following on various social media platforms.

As Ayers Badan departs from her CEO position, her next career move remains unknown. Her departure marks a significant transition for Barstool Sports, and the company will now navigate this change as it looks towards the future.