What does the potential ownership change mean for the struggling NHL team?
Fenway sports group, which owns the Boston Red Sox, Liverpool F.C., and part of the RFK racing Nascar team, are in talks to purchase the Pittsburgh Penguins who are currently valued at well over $800 Million.
Just last month, the Penguin's sellout streak of 14 years had finally come to an end and followed with multiple home games of low attendance (92.9% capacity average). Meanwhile only 2 weeks ago, the Penguin's had to be saved from financial ruin. So is it time for fan's to panic?
Not necessarily. Its probably too early to discuss how a management change could impact the future of the Pittsburgh Penguins, however, the penguin's appear to be in a transitional period. With their key players Evgeni Malkin and Kris Letang set to become unrestricted free agents, this team could look a whole lot different next season.
Sidney Crosby has three more seasons after this one on his deal, and is not believed to be interested in playing elsewhere in his career.
The Penguin's are currently 7th in the Metropolitan division, and are on a steep decline from previous successful seasons. As we all know when a team struggles on the ice, filling seats in the stands is a tough task. Look at how Montreal's attendance has been impacted (92% of capacity) due to their poor start to the 2021-22 season.
Penguin's Co-owner Ron Burkle has taken a massive financial hit during the pandemic, and is expected to move on from the team. However, his partner and franchise star Mario Lemieux is expected to stay put with the organization in a minority-ownership role.
More to come, we will update this page.
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