PITTSBURGH (KDKA) — Fenway Sports Group (FSG) is looking into selling a minority stake in the Pittsburgh Penguins. This news comes from a report by ESPN, which states FSG is preparing to take the team to market this week.
Details on the size of the stake being offered are still unclear. However, it is reported that FSG plans to maintain control of the team even after the sale.
This isn’t FSG’s first venture into selling minority ownership. In 2023, they sold a portion of their stake in Liverpool FC, showing a pattern of seeking strategic investments.
If FSG successfully finds a buyer, the NHL’s Board of Governors will need to approve the sale. It’s an important step in maintaining the integrity and stability of team ownership within the league.
FSG has been in charge of the Penguins since 2021, when they purchased the controlling interest for $900 million. Besides the Penguins, they also own Liverpool FC in soccer and the Boston Red Sox in baseball, along with RFK Racing in NASCAR.
This move could signal FSG’s plans for future growth within the franchise and enhance their investment strategy across sports.
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Pittsburgh Penguins, NHL
