Fenway Sports Group, owners of the Boston Red Sox among multiple other entities, has entered into an agreement to acquire controlling interest in the Pittsburgh Penguins hockey team with the deal, which is subject to approval by the National Hockey League Board of Governors, expected to close before the end of the year.
Mario Lemieux and Ron Burkle will remain part of the ownership group and Lemieux will continue his role guiding hockey operations for the organization. Lemieux and Burkle purchased the team in 1999 and in the past 22 years have seen the Penguins win three Stanley Cups along with the construction of PPG Paints Arena, a multi-purpose venue which opened in August 2010.
“As the Penguins enter a new chapter, I will continue to be as active and engaged with the team as I always have been and look forward to continuing to build on our success with our incoming partners at FSG,” Lemieux said. “They have an organizational philosophy that mirrors the approach that worked so well for Ron and me over the past 22 years.”
In addition to owning the Red Sox and Fenway Park, Fenway Sports Group owns Liverpool Football Club and NASCAR’s RFK Racing.
“The Pittsburgh Penguins are a premier National Hockey League franchise with a very strong organization, a terrific history and a vibrant, passionate fan base,” Fenway Sports Group Chairman Tom Werner said. “We are particularly excited to welcome Mario Lemieux and Ron Burkle to FSG and have the utmost respect for all they have done to build the Penguins into the perennially successful franchise we know today. We look forward to working with Mario, Ron and the entire Penguins front office team.”