Boston Red Sox owner poised to buy Pittsburgh Penguins

Boston Red Sox owner Fenway Sports Group is close to a deal to buy the Pittsburgh Penguins, according to sources familiar with the agreement.

ReutersUpdate: Nov 16th, 2021 20:29 EST

Boston Red Sox owner Fenway Sports Group is in talks to close a deal to buy the Pittsburgh Penguins, according to sources familiar with the agreement.

The ice hockey team’s senior leadership is reportedly not expected to be affected by the sale.

The Penguins’ survival

Co-owners Mario Lemieux and Ron Burkle had brought together some investors in 1999 to pull the professional ice hockey team out of bankruptcy. Lemieux has been a big part of the team since he started playing with the Penguins in 1984.

The Wall Street Journal first reported that the deal was being struck, saying that it could be finalized in just a few days.

Big @WSJ scoop w/ ⁦@lainehiggins17⁩: Fenway Sports Group, the holding company that owns the Boston Red Sox, is in advanced talks to buy the Pittsburgh Penguins hockey team https://t.co/f8KCc5DrBi

— Cara Lombardo (@CaraRLombardo) November 16, 2021

Fenway’s deep pockets

Fenway Sports Group was founded in 2001 by its principal owner billionaire John Henry. The group also owns other sports organizations such as the Liverpool Football Club and half of NASCAR’s Roush Fenway Racing.

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