BOSTON/PITTSBURGH – (Staff Report from Official News Release) – The Pittsburgh Penguins and Fenway Sports Group entered into an agreement for FSG to acquire controlling interest in the Pittsburgh Penguins hockey team. The deal, which is subject to approval by the National Hockey League Board of Governors, is expected to close before the end of the year.
As part of the transaction, Mario Lemieux and Ron Burkle will remain part of the ownership group and will be closely aligned with FSG. Lemieux, a member of the Hockey Hall of Fame, will continue his role guiding hockey operations for the organization. In addition, continuity of leadership will be maintained among 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.
FSG Chairman Tom Werner said in a statement, “The Pittsburgh Penguins are a premier National Hockey League franchise with a very strong organization, a terrific history and a vibrant, passionate fan base. We will work diligently to continue building on the remarkable Penguins’ tradition of championships and exciting play.”
Lemieux and Burkle, who purchased the team in 1999, enjoyed a 22-year partnership that delivered three Stanley Cups and the construction of PPG Paints Arena, a multi-purpose venue which opened in August 2010 and is considered one of the top facilities in North America. Under their leadership, the Penguins have consistently led the NHL in local TV ratings, social media, sponsorships, and community and youth hockey investments, while selling out more than 600 straight games.
“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,” Lemieux said. “They have an organizational philosophy that mirrors the approach that worked so well for Ron and me over the past 22 years.”
“Fenway Sports Group brings everything we could ask for in an ownership partner to help continue the historic success of the Pittsburgh Penguins,” said Morehouse. “They understand what the Penguins mean to Pittsburgh, and they bring to us the latest in cutting-edge sports research, data analytics, player training and performance, real estate development, and organizational excellence..”