Report: Fenway Sports Group Close To Purchasing Pittsburgh Penguins
BOSTON (CBS) -- Can the ownership group of the Boston Red Sox also own a rival of the Boston Bruins? We may soon find out.
The Wall Street Journal's Cara Lombardo reported on Tuesday that Fenway Sports Group -- the group that owns the Red Sox, Liverpool Football Club, and 50 percent of Roush Fenway Racing -- "is in advanced talks to buy the Pittsburgh Penguins hockey team."
"A deal could be finalized later this week, assuming the talks don't fall apart," Lombardo reported.
The Penguins are currently owned by Ronald Burke and Mario Lemieux, who played for the team from 1984-2006, winning two Stanley Cups and three Hart Trophies while making nine All-Star teams during his Hall of Fame career. That duo bought the team in 1999, after the team filed for bankruptcy. The team has won three Stanley Cups since then.
FSG announced a major financial investment from RedBird Capital Partners back in March. FSG has made it clear that it intended to add to its sports portfolio after that $750 million investment.
FSG was founded by John Henry and Tom Werner in 2001. The group acquired the Red Sox in February 2002.
