Barstool Sports’ Dave Portnoy saves struggling businesses with Barstool Fund

By Anthony Caruso III | Publisher

Barstool Sports founder Dave Portnoy has a lot of critics. However, he is doing something this holiday season that is bringing a lot of joy to people’s faces.

Portnoy has raised $4.5 million for 10 small businesses, who are hurting from restrictions due to the lingering coronavirus pandemic. Those businesses, who are in Democratic-controlled states, are dealing with harsh lock downs and restrictions compared to Republican-controlled states.

Restaurant
Restaurant (Photo by Unsplash)

He started “The Barstool Fund” last week and even put his own money, where his mouth is. He put up $500,000 towards the fund.

“It was certainly humbling and a little embarrassing,” Abbey Bar owner Kerry Counard said — who is one of the initial 10 small businesses picked by Portnoy, according to Fox Business.

Counard was overwhelmed with emotion when he heard that Abbey Bar was selected by Portnoy. Abbey Bar has been in operation for 45 years.

The bar has been helping frontline workers by using cash donations and turning them into gift cards for nurses and teachers.

“When we opened as take out only, being a neighborhood grill, we make money when people come in and sit down and have a drink and stick around,” Counard said. “We got most of our business from [the] college, [which] went almost completely virtual this fall. We lost almost all that business.”

Right now, Portnoy said that he’s 10 small businesses. But with the success of his fund so far, he may be able to help more than 10 in the future.

This is not the only good deed that Portnoy has done through his business venture. He also helped save Reading Terminal Market — an historic landmark in Philadelphia, Pennsylvania in October.

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