Fenway Sports Group (FSG) have a vast sports portfolio and are looking to cash in on one of their assets according to reports.
For many Liverpool supporters, the business dealings of Fenway Sports Group (FSG) are often scrutinized just as closely as Arne Slot’s starting XI. We all know the drill by now: FSG operates a self-sustaining model where the success of their global portfolio—spanning the Boston Red Sox, Liverpool FC, and the Pittsburgh Penguins – often dictates the financial health of the collective.
When John Henry and co. make money elsewhere, the hope at Anfield is always that a chunk of those funds will trickle down into the transfer war chest.
That is why ears perked up this week at reports that FSG was on the verge of a massive cash injection from their NHL franchise, the Pittsburgh Penguins. However, in true transfer deadline day fashion, the situation has descended into conflicting reports and drama.
FSG purchased the Penguins in 2021 for roughly $900 million, adding the ice hockey giants to their prestigious stable. Recently, however, they have been looking to offload the team, with the Hoffmann family – a Florida-based investment group – emerging as the clear frontrunners. But it looks like a spanner has been thrown in the works.
NHL insider Elliotte Friedman reported via Sportsnet that the Hoffmann family’s “exclusive negotiating window” had officially lapsed. It’s explained that while the Hoffmanns remain interested, the expiration means FSG is now free to shop the franchise to other bidders, potentially dragging the saga out further.
It suggests that if the Hoffmann family really wanted the Penguins, they would have sealed the deal in their exclusive window.
However, not all is apparently lost. Pittsburgh Hockey Now has reported that that the transaction between FSG and the Hoffmann family “remains in process”. But it will probably not move quickly, as the report states “complications” on external details are holding up the process.
The CNBC (Consumer News and Business Channel) value the Penguins at around $1.76 billion, meaning FSG stand to gain £700 million in profit should the hockey outfit be sold at that valuation.
For now, Liverpool fans will have to wait and see if FSG can get this mega-deal over the line – and, more importantly, if they decide to spend any of that windfall at Anfield.
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