> Fenway Sports Group close to completing Pittsburgh Penguins takeover NHL

Fenway Sports Group close to completing Pittsburgh Penguins takeover

Fenway Sports Group close to completing Pittsburgh Penguins takeover

  • Penguins
Nov 17
SW Creative
  • SportsWriters

Fenway Sports Group, owned by billionaire John Henry, is reportedly in advanced talks to complete the Pittsburgh Penguins purchase from Ron Burkle and Mario Lemieux, a source confirmed to ESPN on Tuesday.

Both Burkle and Lemieux have been the Penguins’ majority owners since 1999. The Wall Street Journal and Sportico were the first to report on the potential sale.

Henry, the principal owner of Fenway Sports Group, is not a new name in the sports franchise business. FSG owns the Boston Red Sox of Major League Baseball, Liverpool FC of England’s Premier League, and Roush Fenway Racing of NASCAR.

Fenway Sports Group also has deals in the real estate business, including Fenway Park, the home for the Red Sox. NBA player LeBron James also has a stake in the company.

The president and CEO of the Red Sox, Sam Kennedy, has expressed his intention to spread FSG’s wings to the NHL in the past.

“We’re a huge admirer of the National Basketball Association and obviously the National Hockey League,” Kennedy said back in April at a Sportico webinar. “It represents a natural place for Fenway Sports Group to look.”

The NHL will have the final say in any process of teams’ takeover. Besides the approval of the Fenway Group board, the league’s Board of Governors has to deliberate to allow the purchase.

  • Fenway Sports Group

    Fenway Sports Group Holdings, LLC , is the ultimate parent company of Major League Baseball's Boston Red Sox and Liverpool F.C., a Premier League Football team.

  • Pittsburgh Penguins

    The Pittsburgh Penguins are a professional ice hockey team based in Pittsburgh. They compete in the National Hockey League as a member of the Metropolitan Division of the Eastern Conference,

  • Boston Red Sox

    The Boston Red Sox are an American professional baseball team based in Boston. The Red Sox compete in Major League Baseball as a member club of the American League East division.

  • Mario Lemieux

    Mario Lemieux is a Canadian former professional ice hockey player. He played parts of 17 National Hockey League seasons with the Pittsburgh Penguins from 1984 to 2006,