Red Sox owner John Henry’s Fenway Sports Group seals deal for Pittsburgh Penguins

John Henry’s Fenway Sports Group has taken a controlling interest in the Pittsburgh Penguins, according to an announcement Monday.

“The deal, which is subject to approval by the National Hockey League (NHL) Board of Governors, is expected to close before the end of the year,” according to an announcement by the Penguins front office.

Legendary Penguin and Hall of Famer Mario Lemieux and Ron Burkle will remain part of the Penguins ownership group.

The deal brings a Boston Bruins rival under ownership of Henry’s FSG, which owns the Red Sox, Liverpool Football Club and other sports properties and real estate.

FSG Chairman Tom Werner said, “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.”

“We are particularly excited to welcome Mario Lemieux and Ron Burkle to FSG and have the utmost respect for all they have done to build the Penguins into the perennially successful franchise we know today. We look forward to working with Mario, Ron and the entire Penguins front office team,” Werner continued.

In an open letter to fans, Lemieux said, “This is a new beginning, not the end of an era. I will continue to be active and involved with the team long-term, helping to oversee and guide the operation just as I always have.”

Financial terms of the deal were not released.

Bank of America is serving as financial advisor to FSG, and Citi as financial advisor to the Penguins on the transaction. Shearman & Sterling served as legal advisor to FSG, while Reed Smith served as legal advisor to the Penguins.

— Developing