According to a report out of the Wall Street Journal, the Pittsburgh Penguins may be sold to the holding company that owns the Boston Red Sox.
Fenway Sports Group LLC is in “advanced talks” to by the Penguins as soon as this week.
The Penguins have been owned by Mario Lemieux’s Lemieux Group LP since 1999, when he an Ron Burkle bought the franchise out of bankruptcy and saved it.
As a player and owner, Lemieux has helped lead the Penguins to five Stanley Cup Championships since 1991.
Forbes reports that the Penguins are worth around $650 million as of last December.
The terms of the deal have not been revealed, but Lemieux would retain some capacity of ownership with Ron Burkle getting out entirely.
Fenway Sports Group also owns part of a NASCAR team and the Liverpool English soccer team.
The organization threatened to leave Pittsburgh for Kansas City in the early 2000s unless a new arena was build.
What resulted would become PPG Paints Arena.