Report: Fenway Sports Group signs purchase agreement for Penguins
Fenway Sports Group has signed a purchase agreement to assume a controlling stake in the Penguins, according to Sportico, an outlet that covers sports business.
This is the latest step in a multi-faceted transaction.
Current co-owners Mario Lemieux and Ron Burkle are expected to remain a part of the franchise in some fashion. Burkle currently owns a majority of the franchise.
The future of other members of Lemieux Group LP is not known.
This sale, which has been in the works for months, is not yet complete. The NHL’s board of governors must approve that transaction, but that is expected to be a mere formality.
Senior management is expected to remain in place once the sale is completed.
The Penguins and Fenway Sports Group have declined requests for comment.
Seth Rorabaugh is a TribLive reporter covering the Pittsburgh Penguins. A North Huntingdon native, he joined the Trib in 2019 and has covered the Penguins since 2007. He can be reached at srorabaugh@triblive.com.
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