Fenway Sports Group (FSG) is in talks to sell the Pittsburgh Penguins for £1.26-1.33B, nearly doubling their £665M investment from 2021, potentially funding new ventures, per September 2025 reports.
FSG, owners of Liverpool FC and the Boston Red Sox, are negotiating with the Hoffmann family to sell the Pittsburgh Penguins, acquired in 2021 for $900M (£665M). The deal, valued at up to $1.8B, is driven by NHL expansion plans adding two teams.
Despite five Stanley Cup wins historically, the Penguins have missed the NHL playoffs for three seasons under FSG, finishing seventh in the Eastern Conference in 2025, prompting the sale consideration.
The potential £665M profit could fund FSG’s ambitions, including acquiring Spanish club Getafe and exploring an NBA team in Las Vegas with minority shareholder LeBron James, alongside their PGA Tour and NASCAR investments.
The Penguins’ value surge, tied to NHL growth, highlights sports franchises as lucrative assets. FSG’s continued operations and quarterly meetings suggest a strategic exit to maximize returns for diversified ventures.
If completed by 2026, the sale could reshape FSG’s portfolio, prioritizing profitable assets like Liverpool and the Red Sox. The deal’s success hinges on meeting the $1.7-1.8B valuation, signaling FSG’s bold financial strategy.
