"When the Penguins were sold in 2021 to Fenway Sports Group, the sale was for around $900 million. The asking price for FSG's prospective transaction could stand at around $1.8 billion USD, which would be double the amount that the company paid to acquire ownership of the team. The increase in value comes as the Penguins' ongoing postseason drought has surpassed three seasons; their last playoff appearance, a seven-game first-round loss to the New York Rangers, came in the 2021-22 season."
"Besides the Penguins, Fenway Sports Group owns MLB's Boston Red Sox, their home stadium Fenway Park, and their spring training ground Fenway South. FSG also owns football club Liverpool FC in the Premier League, NASCAR's RFK Racing, and Boston Common Golf of the TGL. The company also maintains ownership of broadcasting corporations NESN and SportsNet Pittsburgh. Despite an agreement in principle being in place, the sale cannot be made official until it is voted on by the NHL's Board of Governors."
Fenway Sports Group (FSG) plans to sell the Pittsburgh Penguins to the Hoffmann Family, a private-equity conglomerate with a stake in the ECHL's Florida Everblades. FSG bought the Penguins in 2021 for about $900 million and is reportedly seeking roughly $1.8 billion. FSG's assets include the Boston Red Sox, Fenway Park, Fenway South, Liverpool FC, RFK Racing, Boston Common Golf of the TGL, NESN, and SportsNet Pittsburgh. The Penguins have missed the NHL playoffs for three seasons since the 2021-22 first-round loss. Goaltender Tristan Jarry was traded to Edmonton, and trade rumors involve Evgeni Malkin and Sidney Crosby. The sale needs approval by the NHL Board of Governors.
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