Fenway Sports Group to Sell Major Sports Team… Could Liverpool Be Next?
Love them or hate them, Fenway Sports Group (FSG) are very good at what they do.
They acquire what they consider to be under-valued sports teams, invest (to a point) and then sell for a considerable profit once they have been able to instigate a marked improvement in fortunes.
It was revealed in December that FSG plan to sell the NHL franchise that they own, the Pittsburgh Penguins, to a consortium led by American entrepreneur David Hoffmann.
The price? A cool $1.7 billion (£1.27 billion).
It was back in 2021 that Fenway acquired the Penguins for £672 million, so even account for the money they have invested in the franchise, the group still walks away with a considerable profit on their ledger.