Fenway Sports Group has reached a deal in principle to sell the National Hockey League’s Pittsburgh Penguins to the Chicago-based Hoffman family, ESPN’s Emily Kaplan reports, citing sources. The deal, whish is pending approval by the league’s board of governors, is anticipated to have a final sale price of $1.7B-$1.8B, the author says, citing league sources. Fenway Sports Group, which also owns Major League Baseball’s Boston Red Sox and the Premier League’s Liverpool FC, purchased a controlling interest in the Penguins in 2021 for $900M, Kaplan notes. Publicly traded owners of sports franchises include the Liberty Braves Group (BATRA), MSG Sports (MSGS) and Manchester United (MANU).
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BATRA:
- Buy Rating for Atlanta Braves Holdings Inc: Strong Asset Value and Growth Potential with $67 Price Target by 2026
- Atlanta Braves Holdings Reports Strong Q3 2025 Results
- Atlanta Braves Earnings Call Highlights Growth Amid Challenges
- Liberty Braves Group reports Q3 revenue $311.54M, consensus $307.08M