The Pittsburgh Penguins could soon change ownership. Fenway Sports Group (FSG), which owns MLB’s Boston Red Sox and Premier League’s FC Liverpool, is reportedly interested in buying the NHL franchise.
According to ESPN, the negotiations between FSG representatives and Penguins owners Ron Burkle and Mario Lemieux are believed to be in advanced stages. The news was also confirmed by the Red Sox’s president Sam Kennedy, but he didn’t want to go into the details of the deal.
When and if the agreement is made, the FSG will have several more hurdles to clear before finalizing the purchase. The first is getting approval from the company’s board and, if that clears out, they will have to receive a green light from the NHL as well.
The numbers involved in the deal still remain unknown, but it is worth pointing out that the Penguins have an estimated worth of $845 million. The most recent sale of the NHL team came in 2019 when businessman Alex Meruelo purchased the Arizona Coyotes for an estimated $300 million.
The Pittsburgh Penguins are a storied franchise that has won five Stanley Cups since its founding in 1967. Under the current ownership, the team has three Stanley Cup wins. Burkle and Lemieux, who is considered a franchise legend, bought the Penguins in 1999 in an effort to save it from bankruptcy.
