Report: Fenway Sports Group In “Advanced Talks” To Purchase Pittsburgh Penguins

According to the Wall Street Journal, Fenway Sports Group (FSG) is reportedly close to adding the NHL’s Pittsburgh Penguins to its stable of baseball, soccer, auto racing, and TV station properties.

The WSJ reports the deal could be done by the end of the week. The impending terms were not disclosed.

The Fenway Sports Group is the parent company of the Boston Red Sox. The value of the group was pegged in March 2021 at $7.35 billion dollars, when Lebron James and some partners invested in the group.

According to Boston.com, FSG has been eyeing the addition of sports properties ever since it received a $750 million capital boost in March, when RedBird Capital Partners became FSG’s third-largest shareholder.

FSG is the parent company of the Red Sox, Liverpool Football Club, Roush Fenway Racing, NESN, and Fenway Sports Management, plus real estate holdings that include Fenway Park and surrounding parcels.

The Penguins are currently owned by their legendary star Mario Lemieux and investor Ron Burkle.  Lemieux became the owner in 1999.

By Jon Sorensen

About Jon Sorensen

Jon has been a Caps fan since day one, attending his first game at the Capital Centre in 1974. His passion for the Caps has grown over the decades, which has included time as a season ticket holder, social media and community organizer, and most recently led to the founding of NoVa Caps in 2014. Jon earned a Bachelor's of Science in Civil Engineering at Old Dominion University, and is a Systems Engineer during intermissions, which has been instrumental in supporting his Capitals habit.
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3 Responses to Report: Fenway Sports Group In “Advanced Talks” To Purchase Pittsburgh Penguins

  1. novafyre says:

    I guess the two current owners are running out of money after buying off the refs all these Crosby years.

  2. Diane Doyle says:

    The Fenway Group should be buying the Bruins, not the Penguins.

    • Lenny says:

      Jeremy Jacobs isn’t going to sell the Bruins any time soon (as much as I wish he would during any CBA negotiation). And Mario has been shopping the Penguins for years.

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