Top Ad
I DIG Radio
www.idigradio.com
Listen live to the best music from around the world!
I DIG Style
www.idigstyle.com
Learn about the latest fashion styles and more...

Red Sox owners have deal to buy NHL's Penguins

Written by 
Published in Hockey
Monday, 29 November 2021 08:24

PITTSBURGH -- Fenway Sports Group has reached an agreement with the Pittsburgh Penguins that would give the conglomerate controlling interest in one of the NHL's marquee franchises.

The Penguins announced Monday that the two sides have come to terms on a deal, which would need to be approved by the NHL's board of governors. A decision is expected by the end of the year.

Financial details were not released. Sportico valued the Penguins at $845 million last month.

As part of the deal, Penguins Hall of Famer Mario Lemieux and co-owner Ron Burkle will remain part of the franchise's ownership group.

There will be no immediate changes to Pittsburgh's management structure. CEO David Morehouse, general manager Ron Hextall, president of hockey operations Brian Burke and head coach Mike Sullivan will all remain in their current positions.

"The Pittsburgh Penguins are a premier National Hockey League franchise with a very strong organization, a terrific history and a vibrant, passionate fan base," FSG chairman Tom Werner said in a statement. "We will work diligently to continue building on the remarkable Penguins' tradition of championships and exciting play."

The Penguins have won five Stanley Cups during their history, including three since Lemieux and Burkle took over a financially strapped franchise in 1999. Pittsburgh has reached the playoffs 15 consecutive years, the longest active streak in major North American professional sports.

"As the Penguins enter a new chapter, I will continue to be as active and engaged with the team as I always have been and look forward to continuing to build on our success with our incoming partners at FSG," Lemieux said in a statement. "They have an organizational philosophy that mirrors the approach that worked so well for Ron and me over the past 22 years."

The Penguins have steadied themselves following a bumpy start to the 2021-22 season. Pittsburgh has won five of six heading into a four-game road trip that starts Monday in Calgary.

FSG, which owns Major League Baseball's Boston Red Sox and Liverpool of the Premier League, had been looking to add another major sports franchise to its portfolio.

This spring, it brought on as an investor Los Angeles Lakers star LeBron James, who has said he ultimately wants to own an NBA team. FSG received a reported $750 million investment from RedBird Capital Partners in March that valued the sports conglomerate at $7.35 billion.

Read 235 times

Soccer

Alves reports for weekly Barcelona court visit

Alves reports for weekly Barcelona court visit

EmailPrintOpen Extended ReactionsFormer Brazil footballer Dani Alves on Thursday checked in at a Bar...

Fulham stadium plans include rooftop pool

Fulham stadium plans include rooftop pool

EmailPrintOpen Extended ReactionsFulham have unveiled lavish plans for their redeveloped Riverside S...

Liverpool, Utd campaign to combat tragedy abuse

Liverpool, Utd campaign to combat tragedy abuse

EmailPrintLiverpool and Manchester United have jointly launched an education programme through their...

2026 FIFA


2028 LOS ANGELES OLYMPIC

UEFA

Basketball

MPJ defends brother amid betting investigation

MPJ defends brother amid betting investigation

EmailPrintOpen Extended ReactionsDenver Nuggets forward Michael Porter Jr. said Wednesday night that...

Rockets, with play-in in sight, win 10th straight

Rockets, with play-in in sight, win 10th straight

EmailPrintOpen Extended ReactionsOKLAHOMA CITY -- Houston Rockets owner Tilman Fertitta, front offic...

Baseball

'He looks happy': Has Juan Soto finally found a home with the Yankees?

'He looks happy': Has Juan Soto finally found a home with the Yankees?

EmailPrintOpen Extended ReactionsWHEN JUAN SOTO began to initiate himself with the New York Yankees,...

Athletics' Andújar has surgery, could miss month

Athletics' Andújar has surgery, could miss month

EmailPrintOpen Extended ReactionsOAKLAND, Calif. -- Athletics outfielder Miguel Andujar had surgery...

Sports Leagues

  • FIFA

    Fédération Internationale de Football Association
  • NBA

    National Basketball Association
  • ATP

    Association of Tennis Professionals
  • MLB

    Major League Baseball
  • ITTF

    International Table Tennis Federation
  • NFL

    Nactional Football Leagues
  • FISB

    Federation Internationale de Speedball

About Us

I Dig® is a leading global brand that makes it more enjoyable to surf the internet, conduct transactions and access, share, and create information.  Today I Dig® attracts millions of users every month.r

 

Phone: (800) 737. 6040
Fax: (800) 825 5558
Website: www.idig.com
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Affiliated