Portnoy Threatens to Relocate Barstool Sports Over New Mayor’s Election
Dave Portnoy, the founder of Barstool Sports, has expressed strong discontent over Zoran Mamdani’s election as mayor of New York City, hinting that he might close the company’s Manhattan office. He described Mamdani, whom he labeled inexperienced and a “communist,” as detrimental to the city’s business climate.
Portnoy shared his thoughts during a recent YouTube live stream, anticipating that Mamdani might win against former Governor Andrew Cuomo in the upcoming election on November 4. “I hate that guy,” he remarked about Mamdani, emphasizing his distaste for the idea of him leading the city.
Portnoy conveyed his concerns about Mamdani, stressing that the 34-year-old democratic socialist has never held a conventional job and seems to harbor animosity toward America. “It’s alarming to think he could call the shots in New York City,” he added.
Reflecting on his options, Portnoy noted that he has contemplated relocating Barstool Sports during Mamdani’s potential administration. “Honestly, I’ve thought about if it would be better to move to Hoboken or Jersey City or something,” he said, weighing where to take the business.
He expressed his reluctance to maintain an office in Manhattan, saying, “I don’t want to be there. But then again, that would impact others whose lives are tied to the business.” Portnoy indicated that he is genuinely considering the move, directing his finance team to start scouting for real estate opportunities outside New York City.
After predictions surfaced about Mamdani’s election win on Tuesday evening, Portnoy tweeted how relieved he felt to no longer reside in the city.
His dissatisfaction with the new mayor hasn’t surfaced suddenly; it has grown steadily over recent months. During a FOX Business segment in July, Mamdani had made comments suggesting his disdain for capitalism, declaring it troubling that he could lead New York.
Founded in Massachusetts in 2003, Barstool Sports maintains its primary office in Manhattan, though it has shifted much of its operations to Chicago, and was valued at roughly $600 million in 2023.
Mamdani’s platform includes policies like freezing rents and expanding public housing, which many critics fear could hinder investments and push employers away. His election may symbolize a notable political shift in New York, especially when many business leaders were rallying behind Cuomo’s independent campaign.
Some businessmen have congratulated Mamdani on his victory while also expressing their concerns regarding the future of the city’s business environment. Pershing Square CEO Bill Ackman remarked on social media about the responsibility now resting on Mamdani’s shoulders, urging him to communicate how he could aid New York City.
Conversely, not all responses were positive. Some executives, like Palantir’s CEO Alex Karp, shared harsher critiques of Mamdani’s leadership potential. Portnoy, caught between his political opposition and care for his employees in New York, ultimately expressed a desire to consider all options before making a decision.
“If it were just about me, I’d move my company. I really can’t stand this guy,” Portnoy stated during another podcast. “But I also don’t want to disrupt lives in New York because I have issues with the mayor.”
Attempts to reach Mamdani for a comment have been made.
