One of the NHL's most recognizable franchises has new ownership. On Nov. 29, the Pittsburgh Penguins announced Fenway Sports Group (FSG) has "entered into an agreement to acquire controlling interest" in the team.
The NHL announced Thursday its Board of Governors unanimously approved the sale, but the league added the purchase is still subject to "negotiation and execution of documentation" before completion.
The Pittsburgh Penguins and Fenway Sports Group (FSG), a global sports, marketing, media, entertainment, and real estate company, today announced that FSG has entered into an agreement to acquire controlling interest in the Penguins.— Pittsburgh Penguins (@penguins) November 29, 2021
Details: https://t.co/7rdSTv2wzL pic.twitter.com/Rx3YKG5f8A
Mario Lemieux and Ron Burkle will still be part of the Penguins ownership group despite the upcoming changes. Others will also remain with the team, including the club's senior management team of CEO David Morehouse, COO Kevin Acklin, President of Hockey Operations Brian Burke, General Manager Ron Hextall and head coach Mike Sullivan.
Here's what FSG Chairman Tom Werner said about the deal in a press release from the league:
"We are particularly excited to welcome Mario Lemieux and Ron Burkle to FSG and have the utmost respect for all they have done to build the Penguins into the perennially successful franchise we know today. We look forward to working with Mario, Ron and the entire Penguins front office team."
Lemieux also addressed the change, confirming that he will remain a leader within the organization.
"As the Penguins enter a new chapter, I will continue to be as active and engaged with the team as I always have been and look forward to continuing to build on our success with our incoming partners at FSG," he said. "They have an organizational philosophy that mirrors the approach that worked so well for Ron and me over the past 22 years."
FSG is run by by billionaire John Henry. The group also owns the Boston Red Sox, Fenway Park, Liverpool FC and Roush Fenway Keselowski Racing.