Nov 16, 2021
Report: Fenway Sports Group nearing deal to buy Pens
The Pittsburgh Penguins appear poised for a change in ownership. Sportico reports Fenway Sports Group is finalizing a deal to purchase the team from Mario Lemieux and Ronald Burkle.
TSN.ca Staff
The Pittsburgh Penguins appear poised for a change in ownership.
Sportico reports Fenway Sports Group is finalizing a deal to purchase the team from Mario Lemieux and Ronald Burkle.
Fenway Sports Group, headed by John Henry and Tom Werner, is the parent company of both the Boston Red Sox and Liverpool. Los Angeles Lakers superstar LeBron James is also a partner.
The Pens have been owned by franchise icon Lemieux and Burkle since 1999 when the pair bought the team out of bankruptcy.
According to Sportico's most recent franchise valuations released in October, the Penguins are the 15th most valuable franchise in the NHL and are worth approximately $840 million.
The Penguins have won three Stanley Cups since 2009 and five in total.