NHL: Fenway Sports Group acquires the Pittsburgh Penguins franchise

"Fenway Sports Group (FSG), a global sports, marketing, media, entertainment, and real estate company, has entered into an agreement to acquire controlling interest in the Pittsburgh Penguins hockey team (NHL)," announced the group, which owns the Boston Red Sox (MLB) and Liverpool FC (Premier League), on 29/11/2021. The agreement, "which is subject to approval by the National Hockey League board of governors, is expected to close before the end of the year."

The Pittsburgh Penguins were acquired by Mario Lemieux and Ron Burkle in 1999. During this time, the multi-purpose PPG Paints Arena (in Pittsburgh, Pennsylvania) was opened (in August 2010), the franchise has won three Stanley Cups, and "the Penguins have consistently led the NHL in local TV ratings, social media, sponsorships, and community and youth hockey investments, while selling out more than 600 straight games," said Fenway Sports Group, led by John Henry (principal owner), Tom Werner (chairman), and Mike Gordon (president).

"As part of the transaction, Mario Lemieux and Ron Burkle will remain part of the ownership group…