Pittsburgh Penguins Reportedly Nearing Billion Dollar Organizational Decision

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Tom Banks
January 28, 2025  (10:05)

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Photo credit: Sports Illustrated

The Pittsburgh Penguins are currently owned by Fenway Sports Group, and now, it appears they're ready to sell a minority stake in the team after a report from one of the NHL's top insiders.

Three years ago, the Pittsburgh Penguins were purchased by Fenway Sports Group, but now, things appear to be changing with one the NHL's best and most iconic franchises.

This is the same company that owns the Boston Red Sox, Liverpool FC, and NASCAR's RFK Racing, and now, according to Kevin Weekes and Emily Kaplan, the company are preparing to sell a minority stake in the team.

The report reveals that FSG will still retain the controlling stake in the team, but this is a major change regardless, given that the team were purchased less than four years ago, with something potentially changing in a huge way.

Despite having stars like Sidney Crosby, Kristopher Letang and Evgeni Malkin, the future of the Penguins is looking rather bleak beyond their homegrown veteran stars, and many fans on social media are quick to note that this could be the team getting out before the fall happens.

The money in the NHL however will always make owning an NHL team great business, and with the company also owning two of the biggest sports teams in the world in the Red Sox and Liverpool, this is an intriguing move indeed.

Ultimately, it's not the breaking news that everyone wanted to hear about the Pittsburgh Penguins given the speculation surrounding Sidney Crosby, and it likely won't change very much moving forward, but given how big of a deal selling any part of a franchise is, one can't help but wonder if this is part of a bigger play moving forward.

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Previously

NHL Insider Darren Dreger Provides Major Updates on Trade Talks Involving Elias Pettersson and JT Miller

Sidney Crosby Directly Addresses Rampant Trade Rumours

NHL Department of Player Safety Harshly Punishes Emil Lilleberg for Illegal Interference

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JANVIER 28   |   160 ANSWERS Pittsburgh Penguins Reportedly Nearing Billion Dollar Organizational Decision Do you believe the Pittsburgh Penguins one of the 10 most valuable teams in the NHL?
Yes	70	43.8 %
No	90	56.3 %
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