FSG set for $1.7 billion boost as Liverpool owner 'agrees' major deal

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Liverpool owner Fenway Sports Group (FSG) has reportedly agreed a $1.7 billion deal to sell the NHL team, the Pittsburgh Penguins, to a Chicago-based group led by investor David Hoffmann. In addition to Liverpool FC, FSG also owns the Boston Red Sox baseball team, with those franchises the biggest and most important in its portfolio.

FSG bought the Penguins in 2021 for a reported $900 million. It's said that FSG has "agreed a price" to sell the Penguins to the Hoffman family, although NHL commissioner Gary Bettman has "advised all parties to maintain silence on the matters until the deal is complete".

For the Penguins, however, things have not gone so well on the field during FSG's tenure. "Maybe the Hoffmann family will actually treat the Penguins like the historic franchise they are." It remains to be seen what impact the sale will have on the FSG portfolio.