John Henry, Fenway Sports Group Founder: “Sports Winning Cannot Be Done Without Attention to Revenue”

by time news

NHL team Pittsburgh Penguins change ownership. It is bought by the Fenway Sports Group, founded by billionaire John Henry. It owns the American baseball team Boston Red Sox, the legendary English football superclub Liverpool and the RFK Racing NASCAR team.

According to CBS, a controlling stake in the Pittsburgh Penguins will cost Fenway more than $ 900 million. The club’s current owners, longtime penguin captain Mario Lemieux and businessman Ron Burkle, bought it in 1999 for $ 107 million, saved it from bankruptcy and made it successful again. Lemieux, by the way, will retain a minority stake. On the way, the deal has one last obstacle: it must be approved by the NHL.

The Pittsburgh Penguins is one of the most popular and successful NHL franchises. The club has won five Stanley Cups since joining the league in 1967. Two titles were recently won in 2016 and 2017. It is for Pens that Sidney Crosby plays – probably the best hockey player on the planet in the ten years and the main star of the Olympic hockey tournament in Sochi.

In recent years, penguins do not shine. Henry chose a good moment to offer to buy, because now the club is at a crossroads: the old stars have aged, and the new ones have not yet been revealed. The outlines of the future of this team are not completely clear.


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