Fenway group lists stake in historic NHL organization for sale that could change it all
Photo credit: NHL
According to several reports from NHL insiders of ESPN Kevin Weekes and Emily Kaplan, one of the most valued NHL franchises is set to take their organization to the market and sell off a large margin of their ownership.
From the ESPN insider, Kaplan:
Fenway Sports Group is taking the Pittsburgh Penguins to market this week to explore selling a minority stake, multiple sources told ESPN on Monday.
It is still to be determined what percentage of the team Fenway is looking to sell, but FSG still expects to be the controlling owners, sources told ESPN.
FSG did something similar with Liverpool in 2023, selling a minority stake of the EPL team to New York-based sports investment firm Dynasty Equity.
Fenway bought controlling interest of the Penguins in 2021 for $900 million. The Penguins were previously owned by Ron Burkle and franchise legend Mario Lemieux, who had bought the team and saved it from bankruptcy in 1999. That group helped keep the Penguins in Pittsburgh, then the club went on to win three Stanley Cups from 2009 to 2017 with its current core player group of Sidney Crosby, Evgeni Malkin and Kris Letang. Lemieux has remained involved with the team after the sale to Fenway.
- Emily Kaplan
It is still to be determined what percentage of the team Fenway is looking to sell, but FSG still expects to be the controlling owners, sources told ESPN.
FSG did something similar with Liverpool in 2023, selling a minority stake of the EPL team to New York-based sports investment firm Dynasty Equity.
Fenway bought controlling interest of the Penguins in 2021 for $900 million. The Penguins were previously owned by Ron Burkle and franchise legend Mario Lemieux, who had bought the team and saved it from bankruptcy in 1999. That group helped keep the Penguins in Pittsburgh, then the club went on to win three Stanley Cups from 2009 to 2017 with its current core player group of Sidney Crosby, Evgeni Malkin and Kris Letang. Lemieux has remained involved with the team after the sale to Fenway.
- Emily Kaplan
A change in ownership is underway, could we see a popular celebrity take the reigns, a once rumored Ryan Reynolds or even Snoop Dogg?
I guess we'll wait and see..
| POLL | ||
JANVIER 27 | 198 ANSWERS Fenway group lists stake in historic NHL organization for sale that could change it all Should the Blackhawks follow lead and consider selling their franchise? | ||
| Yes | 75 | 37.9 % |
| No | 123 | 62.1 % |
| List of polls | ||
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