As Mario Lemieux reportedly has interest in buying back the Penguins, FSG shoots down 'speculation'
Published in Hockey
PITTSBURGH — Penguins icon Mario Lemieux is interested in buying back the NHL franchise from Fenway Sports Group, according to a report from Canadian sports network TSN.
However, FSG said in a statement that it does not wish to sell control of the team.
“We’ve seen the speculation, and as we’ve previously shared with media, Fenway Sports Group is currently engaged in a process to explore a potential minority investment in the Pittsburgh Penguins,” FSG’s statement read. “The focus is on identifying a small, passive partner, and that is the current framework under discussion with potential investors.”
TSN’s Pierre LeBrun, a longtime hockey reporter, reported Wednesday afternoon that Lemieux and Ron Burkle are “investigating the possibility” of reacquiring the Penguins from Fenway Sports Group. Lemieux and Burkle co-owned the Penguins from 1999 to 2021 before they sold controlling interest to the Boston-based group.
The TSN report said David Morehouse is also part of the group that is looking into whether the team is for sale. He served as Penguins team president for 15 years.
However, FSG has indicated it is not open to selling controlling interest of the team less than four years after it purchased the Penguins for a reported $900 million.
FSG continues to look into the potential sale of a minority share of the Penguins.
When that news emerged in January, team sources stressed FSG wasn’t looking to bail on the Penguins. Instead, they said FSG sought additional capital in order to continue to invest in the NHL club and the Lower Hill redevelopment plan.
Despite a decline in attendance with the now-rebuilding Penguins having missed the playoffs three years in a row, FSG has not slashed spending on the hockey side. FSG gave Kyle Dubas the green light to spend to the salary cap ceiling, and Dubas has built up his hockey operations staff. He just hired a new coach in Dan Muse.
Privately, FSG expressed full support for Dubas as he implemented this rebuild.
Still, the struggles that the Penguins have experienced in the late stages of Sidney Crosby’s career have frustrated a segment of the fan base. So have increased ticket prices and other changes to the game-day experience that FSG has introduced.
Perhaps that was a factor in Lemieux, Burkle and Morehouse looking into a buy.
Morehouse has not responded to a request for comment from the Post-Gazette.
Their potential interest is moot if FSG has no intention to unload the Penguins.
Selling the team so soon would be unusual for FSG, which is led by John Henry and Tom Werner. FSG has longstanding commitments to its other major professional sports teams, including the Boston Red Sox and the English soccer club Liverpool.
Lemieux, one of the greatest scorers in NHL history, won two Stanley Cup titles as a player for the Penguins, then oversaw three more championships here as an owner. He has a frayed relationship with FSG after a legal dispute following the sale.
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