Fenway Sports Group reportedly in serious talks to purchase NHL’s Pittsburgh Penguins

Fenway Sports Group, the parent company that owns the Red Sox, is reportedly in serious talks to buy the Pittsburgh Penguins and add to its stable of sports properties.

The Wall Street Journal reported first on Tuesday that FSG is nearing a deal to acquire the NHL’s Penguins, and that it could be completed as soon as this week.

The Penguins have been owned by former NHL star Mario Lemieux and investor Ron Burkle since 1999, and have helped bring the franchise out of bankruptcy.

FSG, which is controlled by John Henry, also owns properties that include English Premier League soccer club Liverpool F.C.,Roush Fenway Racing and NESN. In March, the group approved a $750 million investment from Redbird Capital Partners, as they continue to seek expansion. They’ve been open about adding another North American sports franchise to its portfolio, which they haven’t done since acquiring the Red Sox in 2002.

from Boston Herald https://ift.tt/30tfrtF