Fenway Sports Group is looking to sell a minority share of the Pittsburgh Penguins, multiple media outlets reported Monday.
The Boston-based conglomerate hasn’t revealed how much of the Penguins it plans to sell, but reports indicated that the group still plans on being the majority owner.
This isn’t the first time Fenway Sports Group has sold part of a team to outside investors, as it dealt a minority stake of Liverpool, an English Premier League club, to Dynasty Equity, which is based out of New York.
Along with the Penguins and Liverpool, Fenway Sports Group also owns the Boston Red Sox, the New England Sports Network, NASCAR’s RFK Racing and Boston Common Golf of the TMRW Golf League (TGL).
Fenway Sports Group spent $900 million to grab control of the Penguins in 2021, taking over for previous owners Ron Burkle and Mario Lemieux, who established himself as a franchise centerpiece by spending his entire 17-year NHL career in Pittsburgh.
Lemieux has still been involved with the organization, even after Fenway purchased the Penguins.
Pittsburgh entered Monday 20-23-8 on the season (48 points).
–Field Level Media
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