Fansided

Fenway Sports Group Penguins interest: How much are they worth?

By Aryanna Prasad

LOS ANGELES, CA - JANUARY 27: Former NHL player Mario Lemieux speaks on stage during the NHL 100 - Media Availability as part of the 2017 NHL All-Star Weekend at the JW Marriott on January 27, 2017 in Los Angeles, California. (Photo by Bruce Bennett/Getty Images)
LOS ANGELES, CA - JANUARY 27: Former NHL player Mario Lemieux speaks on stage during the NHL 100 - Media Availability as part of the 2017 NHL All-Star Weekend at the JW Marriott on January 27, 2017 in Los Angeles, California. (Photo by Bruce Bennett/Getty Images) /
facebooktwitterreddit

Fenway Sports Group, which owns the Boston Red Sox and Liverpool F.C., is expanding their reach into NHL with reported interest in the Pittsburgh Penguins. 

The Pittsburgh Penguins currently sit near the bottom of the Metropolitan Division, ranking only above the New York Islanders with their 5-6 record.

Dubbed this season’s “boom or bust team” by Sports Illustrated, the Pennsylvania team is leaning toward “bust” this season as they continue to rack up losses.

But all of that could change now, as the Penguins are reportedly negotiating a deal with the sports group that owns two of the best franchises in their respective sports. The Fenway Sports Group, which owns the Boston Red Sox in the MLB and Liverpool F.C. in the Premier League, have a negotiation underway with the Penguins’ current leadership.

According to a Forbes report, Penguins chairman and co-owner Mario Lemieux will remain in his current position.

Mario Lemieux selling Penguins

Lemieux is reportedly selling the Penguins, which he bought in 1999 as a bankrupt franchise. At the time, Lemieux and co-owner Ron Burkle bought the team for $107 million. As of last December, Forbes estimated the team was now worth $650 million. Over his 22 years of ownership, the Penguins have moved into a publicly-owned arena and won three Stanley Cups.

Mario Lemieux net worth

As one of the wealthiest NHL players of all time, Lemieux has a reported net worth of $200 million. Lemieux made about $50 million while playing for the Penguins for the entirety of his 17-year career, but he multiplied that fortune by purchasing the team in 1999.

LeBron James Fenway Sports Group

In March of 2021, Los Angeles Lakers star LeBron James officially joined Fenway Sports Group, becoming a part-owner of the Red Sox and Liverpool.

If the Penguins deal goes through, that will make James a co-owner of the Pittsburgh franchise.

LeBron James and business partner Maverick Carter have worked with Fenway Sports Management over the past decade.

Must Read. Pittsburgh Penguins: 3 ways they can maintain their momentum from last season. light

Home/Pittsburgh Penguins