Boston Red Sox Ownership Group To Buy NHL Franchise
The Wall Street Journal was the first to report that the Fenway Sports Group (FSG), led by Boston Red Sox Principal owner John Henry, is finalizing a deal to buy the Pittsburgh Penguins. FSG board members are expected to give final approval to the purchase later this week.
This move by the John Henry led group may cause some New England sports fans to raise their eyebrows, but remember he is an owner not a fan. John Henry and FSG are in the business of making money. Reports from earlier in 2021 valued FSG at $7 billion, before the most recent news of the Penguins purchase. I don't think they are feeling conflicted about what Bruins fans might think about the reported deal.
Once approved, FSG will own a franchise in the National Hockey League (Penguins), MLB (Red Sox), Roush Fenway Racing, and the Liverpool FC franchise. Adding to the sting for some Boston sports fans is knowing that LeBron James has a stake in the John Henry money train. James’ financial advisors have made many shrewd moves over the years, and becoming part of Red Bird capital, was one of them.
Specific financial details have not been disclosed at this time, but will be once the purchase is made official by the board, and NHL owners. Many experts are speculating the price of the sale is in the neighborhood of $900 million. NHL and Penguins legend Mario Lemieux is expected to maintain a piece of his ownership stake.
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