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Fenway Sports Group LLC, which owns the legendary Boston Red Sox and Fenway Park, is Reportedly in the negation of buying the Pittsburgh Penguins.
The Wall Street Journal reported on the discussions Tuesday afternoon, citing sources familiar with the negotiations.
According to the report, a deal could be closed this week. Conditions of a possible deal were not reported.
By email, a Fenway Sports Group spokesman told the Tribune Review, “We are aware of the reports and have no comment on the speculation.”
Such a transaction would come at a time when the Penguins and the NHL were struggling to maintain their sources of income due to the pandemic.
Last month, a 14-year streak of sales came to an end. Team President and CEO David Morehouse named the pandemic as the reason.
Apart from their home game on October 16, the Penguins haven’t sold out a single game this season.
Lemieux Group LP has owned the Penguins since purchasing the bankruptcy franchise in 1999. Franchise icon Mario Lemieux is identified as co-owner and chairman, while Californian businessman Ronald Burkle is co-owner.
In addition to the Red Sox and Fenway Park, the Fenway Sports Group owns the regional broadcaster New England Sports Network (NESN), Liverpool F.C. (a football team that competes in the English Premier League) and Roush Fenway Keselowski Racing (that competes in NASCAR).
Seth Rorabaugh is a contributor to Tribune Review. You can contact Seth by email at [email protected] or on Twitter.
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