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Red Sox President Sam Kennedy confirmed on Wednesday that Fenway Sports Group, which owns the Major League Baseball team as well as Liverpool FC of the Premier League and is partners in the RFK Racing NASCAR team, has been working on a deal for the professional hockey club. The talks were first reported by Sportico.
Kennedy declined to elaborate on the terms of the deal. Sportico valued the Penguins last month at $845 million.
Former Penguins star and current part-owner Mario Lemieux and the management team will reportedly remain in place.
FSG has been looking to add another major sports franchise to its portfolio.
This spring, it brought on as an investor Los Angeles Lakers star LeBron James, who has said he ultimately wants to own an NBA team. FSG received a reported $750 million investment from RedBird Capital Partners in March that valued the sports conglomerate at $7.35 billion.
More AP NHL: https://apnews.com/hub/nhl and https://twitter.com/AP_Sports
Jimmy Golen, The Associated Press