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Fenway Sports Group Weighs Minority Stake Sale in Penguins

1/28/2025

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Summary

Story summary

Fenway Sports Group is considering selling a minority stake in the Pittsburgh Penguins while keeping control of the team. The exact percentage up for grabs remains uncertain. Having acquired the Penguins for $900 million in 2021, any sale will require approval from the NHL's Board of Governors. Fenway also owns the Boston Red Sox and Liverpool FC.

History

Historical Context

Fenway Sports Group's potential sale of a minority stake in the Pittsburgh Penguins reflects a historical trend of ownership changes since the franchise's founding in 1967. Previous ownership struggles, including bankruptcy in the late 1990s, shaped today's team dynamics and market strategies, emphasizing the importance of stable management.

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Story summary

Fenway Sports Group is considering selling a minority stake in the Pittsburgh Penguins while keeping control of the team. The exact percentage up for grabs remains uncertain. Having acquired the Penguins for $900 million in 2021, any sale will require approval from the NHL's Board of Governors. Fenway also owns the Boston Red Sox and Liverpool FC.

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