FSG in talks that could free up more money for Liverpool – The Athletic
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Fenway Sports Group (FSG) has dismissed recent reports suggesting it is selling the Pittsburgh Penguins, clarifying that it is instead seeking a minority investor to support the team's long-term growth. These reports were fueled by speculation linking the Chicago-based Hoffman family, who have significant wealth, to potential interest in acquiring the Penguins. FSG responded twice on record to these rumors, emphasizing that while the process of evaluating equity partners remains active, there is currently nothing definitive to confirm or discuss.
This cautious approach mirrors FSG's previous handling of Liverpool FC’s ownership, where after months of speculation about investors, the group eventually secured a minority partner, stabilizing the club’s situation. Liverpool subsequently won the Premier League Championship last year, underscoring a successful partnership model. FSG appears to be applying a similar strategy with the Penguins, aiming to enhance the franchise's growth without full ownership changes.
The ongoing dialogue around the Penguins’ ownership reflects the larger dynamic where billion-dollar sports franchises seek strategic equity partnerships rather than outright sales, preserving control while gaining investment. The Hoffman family's link remains speculative without confirmation from FSG, which remains intent on the team's stability and competitive future.
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