July 5, 2022

The Queens County Citizen

Complete Canadian News World

Mario Lemieux sells penguins, but stays the same

Mario Lemieux sells penguins, but stays the same

Mario Lemieux has new business partners in Pittsburgh. Penway Sports Group (FSG), which owns the Boston Red Sox, will in fact become the majority owner of the penguins under an agreement signed on Sunday.

According to Site The Athletic, the deal, valued at about $ 900 million, will need to be approved by the National Hockey League (NHL) board of governors, which will meet in December.

Despite this change of hands, there were no setbacks in the team’s organizational structure. So that the members of the hockey department are in place.

“The Pittsburgh Penguins are the strongest team in the NHL, with a rich history and a dynamic and passionate fan base,” FSG CEO Tom Werner said in a statement. We will work diligently to continue building this wonderful tradition among penguins. ”

Lemieux stays

Lemieux, like its partner Ron Berkeley, owns a stake in the company. When the club went bankrupt in 1999, two people became the majority owners. This was mainly due to “Le Magnifique” concluding the transaction during its first retirement in exchange for nearly $ 20 million in unpaid wages.

At the same time, he became president and he was in charge of team management.

“We are delighted to welcome Mario Lemieux and Ron Berkeley to the FSG and have the utmost respect for all they have done to turn the Penguins into the company we know today,” Warner added.

“As the Penguins enter a new chapter, I look forward to being very active and committed with the team and looking forward to continuing our success with our new partners in the FSG,” Lemieux said. They have an organizational philosophy that reflects the approach that has worked so well for Ron and me for the past 22 years. ”

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FSG specializes in Fenway Park, Liverpool FC and NASCAR Rosh Fenway Racing. The company is valued at over $ 7 billion.