The Fenway Sports Group is reportedly selling one of its core professional sports franchises.
As first reported by hockey insider Frank Seravalli, FSG has agreed to sell the NHL’s Pittsburgh Penguins to a Chicago-based ownership group led by David Hoffman. A price has not been reported, but Seravalli reports an official announcement is coming in the next week.
The Daily Mail has reached out to Penguins spokespeople for confirmation.
FSG bought the Penguins in 2021 from an ownership group led by Hockey Hall of Famer and franchise savior Mario Lemieux for a reported $900 million. Just last week, Forbes valued the club at $1.75 billion with $230 million in annual revenue.
Owners of Major League Baseball’s Boston Red Sox and the English Premier League’s Liverpool Football Club, FSG was founded by John Henry and Tom Werner in 2001. Its investors include LeBron James and his long-time business partner Maverick Carter, as well as Red Sox CEO Sam Kennedy.
The Red Sox have enjoyed the most success under FSG’s ownership, ending their 86-year title drought in 2004 and adding another three MLB crowns to boot. Liverpool captured two Premier League trophies, an FA cup, and a UEFA Champions League title since FSG bought the team for a reported £300 million in 2010.
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(From left) Jennifer Ashton and her husband Tom Werner, Chairman of Liverpool, and John Henry, Principle Owner, with his wife Linda Pizzuti Henry. Werner and Henry founded FSG