Barstool Sports Founder Dave Portnoy Threatens to Close Manhattan Office Over Zohran Mamdani’s Election
Barstool Sports founder, Dave Portnoy, is threatening to shut down the company’s Manhattan office following Zohran Mamdani’s election as mayor, expressing his strong disdain for the “inexperienced” and “Communist” politician, while warning that Mamdani’s leadership could damage New York’s business climate.
Portnoy shared his views during a YouTube livestream last week, shortly before Mamdani was expected to defeat former Governor Andrew Cuomo in the Nov. 4 election.
“I hate the guy,” Portnoy said of Mamdani. “I can’t stand the thought of him running New York City. I just can’t. A thirty-something-year-old Communist who’s never had a job, hates America — that doesn’t seem like the best fit.”
At 48, Portnoy discussed the pros and cons of relocating Barstool’s Manhattan office during Mamdani’s tenure.
“Honestly, I’ve thought about it a lot — he’s definitely going to win — maybe moving to Hoboken or Jersey City or somewhere else,” Portnoy said. “I really don’t want to keep an office in Manhattan. But then I have all these people whose lives are impacted if I do that. The New York office staff would have to relocate to Jersey City or Hoboken. It’s a Catch-22.”
Portnoy, however, indicated that he’s seriously considering an exit.
“There’s a part of me that wonders how much will actually change, but I’ve really thought about it,” he continued. “I’ve told our finance team to start looking for property, no joke. It’s about taking a principled stand.”
After Mamdani’s victory was projected on election night, Portnoy posted on social media, “Thank god I don’t live there anymore.”
Portnoy’s frustration with the new mayor had been building for months. In a July appearance on Fox Business, Portnoy warned that Mamdani “hates capitalism” and would “blame the victims of 9/11 rather than the terrorists.” He called Mamdani’s potential victory “a very scary time” and added, “I can’t believe this guy may be the mayor of New York City. He’s closer to a Communist.”
Portnoy founded Barstool Sports in 2003 in Massachusetts. Despite relocating many of its operations to Chicago, the company has maintained a major office in Manhattan, which was valued at approximately $600 million in 2023.
Mamdani, a 34-year-old New York state assemblyman born in Uganda, identifies as a Democratic socialist. His platform includes rent freezes, city-run grocery stores, and expanded public housing—measures critics argue will cripple investment and drive employers out of the city.
His victory marked a significant political shift for New York, where business leaders had rallied behind Cuomo, who ran as an independent.
Pershing Square CEO Bill Ackman, who clashed with Mamdani on social media during the campaign, congratulated the new mayor-elect on social media.
“Now you have a big responsibility,” Ackman wrote. “If I can help NYC, just let me know what I can do.”
The post was criticized by business moguls, especially considering Ackman’s significant financial efforts aimed at defeating Mamdani.
Kathryn Wylde, outgoing CEO of the Partnership for New York City, called out Ackman’s flip-flopping but herself expressed a willingness to work with Mamdani, saying her group looks forward to helping him “achieve his affordability goals while keeping New York competitive as a destination for talent and job creation.”
Other executives were more critical. Palantir CEO Alex Karp told CNBC, “We’re probably about to face a complete disaster. I was born in New York.”
Portnoy, meanwhile, acknowledged his internal conflict: while he opposes Mamdani politically, he is also concerned about the impact on employees who are based in New York.
“If it was just me, I’d move the company out of New York City because I hate this guy so much,” Portnoy said in another podcast appearance. “But I won’t, because I don’t want to change the lifestyle of the people who work here.”