The Liverpool Echo reported that Fenway Sports Group is negotiating to sell its hockey team Pittsburgh Penguins. If the deal is completed, the group is expected to receive a huge return on investment.
Boston-based Fenway Group completed its acquisition of Liverpool for £300 million in 2010. Its systematic operation strategy has brought success to Anfield. It has won two Premier League championships and one Champions League trophy so far. The stadium has been expanded to 61,276 and has built a top training base.
This summer, they also spent £446 million to invest in the transfer market, breaking the single-window club recruitment expenditure record, and signed Wilz and Isaac at two consecutive prices to help Slott and Richard Hughes build on the championship lineup last season.
Liverpool is just one of John Henry's many sports assets, and its industry has expanded to the Pittsburgh Penguins since 2021. Four years ago, he acquired the hockey team for $900 million (£665 million), but has not achieved significant success in both competitive and financial aspects.
This team that won the Stanley Cup five times has missed the NHL playoffs for three consecutive seasons. According to The Athletic, Fenway was in a period of decline in league attendance, and nearly half of the team's revenue was dependent on ticket sales.
But this is not Henry's decision-making mistake. Hockey is in a period of major reconstruction and will achieve league expansion by adding two new teams in the next few years. This move will inject hundreds of millions of dollars into the NHL, significantly increasing the valuation of all teams.
TA reporter Elliot Friedman revealed that if the Penguins are sold, Fenway is expected to receive about US$1.75 billion (£1.3 billion) of profits, nearly doubling the investment amount of £665 million within four years.
It is reported that Henry is evaluating this possibility and potential buyers that meet the asking price have emerged. Last month, The Athletic pointed out that Chicago's Hoffman family participated in the bidding, and Fenway is still operating as usual, although negotiations are still underway.
Latest news shows that a consortium composed of former Penguins boss Mario Lemieu, Ron Burkel and David Morehouse is still interested in buying back the team, but the huge asking price is far beyond its financial resources.