Fenway Sports Group agree £1.35 billion deal

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Fenway Sports Group (FSG) have agreed a sale of one of their assets worth an estimated £1.35 billion according to reliable reports. Image Credits: Imago Images Liverpool supports often have a hot-and-cold relationship with principal owners Fenway Sports Group (FSG).

According to fresh reports from Chicago Business and Bloomberg, Fenway Sports Group has agreed in principle to sell the Pittsburgh Penguins to the Chicago-based Hoffmann Family of Companies. If the sale closes at the reported $1.8 billion valuation, FSG will have effectively doubled their money in just three years, banking a gross profit in the region of $900 million (£675m – £700m).

Only recently, reports surfaced that the Hoffmann family’s “exclusive negotiating window” had lapsed, leading to speculation that FSG might have to reopen the floor to other bidders. Fenway Sports Group Pittsburgh Penguins