![]() The two put the Penguins on the market back in 2015 before eventually, at least officially anyway, removing the "for sale" sign as the team won back-to-back Stanley Cups in 20. Sportico valued the Penguins at $845 million US last month.Īs part of the deal, Lemieux and Burkle will remain part of the franchise's ownership group. FSG already owns several high-profile sports properties, including Major League Baseball's Boston Red Sox and Liverpool of the Premier League.įinancial details were not released. The team announced Monday FSG and Lemieux and Burkle have agreed to a deal that will give the massive conglomerate controlling interest in the Penguins, pending approval by the NHL's Board of Governors, which is expected by the end of the year. The Penguins' spot in Pittsburgh secure for years to come and with five Stanley Cup banners hanging from the rafters at PPG Paints Arena, Lemieux and Burkle are handing the keys over to the Fenway Sports Group. Mario Lemieux and Ron Burkle rescued the Pittsburgh Penguins out of bankruptcy more than 20 years ago, a decision that helped turn the team into one of the NHL's marquee franchises.
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