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Another step in the process involving the potential sale of the Pittsburgh Penguins has been hurdled, as the Fenway Sports Group’s board has reportedly approved the purchase of the franchise.
According to the Pittsburgh Post-Gazette, the Boston-based group’s board unanimously approved the purchase.
KDKA-TV investigator Andy Sheehan reports that the Penguins’ board has already approved the sale.
A source close to the Penguins confirms to @KDKA the Fenway Sports Group board has approved the purchase of the hockey team. The Penguin board approved Tuesday. Sale needs league approval. Per source: "Still work to be done" pic.twitter.com/DX7Ek2Sgb4
— Andy Sheehan (@AndySheehankdka) November 19, 2021
The sale of the team still requires approval from the National Hockey League, but it appears the purchase process is moving quickly.
A potential price tag of $900 million has been rumored and discussed, but that figure has not been confirmed in any way.
According to KDKA-TV, If the deal goes through, Lemieux would stay in a management role but with a reduced ownership stake. CEO David Morehouse, COO Kevin Acklin, GM Ron Hextall and Coach Mike Sullivan also are expected to stay.
It’s unclear when the approval process from the NHL could be completed and when the official sale of the team could be finalized.
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