Overview
- The agreement carries a reported enterprise value of about $1.7 billion, according to Sportico, up from the roughly $900 million FSG paid in 2021.
- Fenway Sports Group will retain a minority stake for a period during a phased transition, and the team’s leadership structure will remain unchanged.
- Geoff Hoffmann is slated to serve as the Penguins’ governor upon closing in 2026.
- NESN will continue operating SportsNet Pittsburgh while regional sports network equity moves to the Hoffmanns, per the deal reporting.
- FSG was advised by Allen & Company and CAA Evolution, with AllenOvery Shearman Sterling LLP serving as legal counsel.