The National Hockey League Board of Governors has unanimously approved the sale of a controlling interest in the Pittsburgh Penguins to Fenway Sports Group.
The transaction is said to be worth $ 900 million.
The transaction would allow the current co-owners, Mario Lemieux and Ron Burkle, to remain within the group of owners.
Fenway Sports Group, which owns the Boston Red Sox and the Premier League’s Liverpool Red Sox, was looking to add another major franchise to its portfolio. Its value is estimated at $ 7.35 billion.
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