PITTSBURGH -- Fenway Sports Group has reached an agreement with the Pittsburgh Penguins that would give the conglomerate controlling interest in one of the NHL's marquee franchises.
The Penguins announced Monday that the two sides have come to terms on a deal, which would need to be approved by the NHL's Board of Governors. A decision is expected by the end of the year.
Financial details were not released. Sportico valued the Penguins at $845 million last month.
As part of the deal, Penguins Hall of Famer Mario Lemieux and co-owner Ron Burkle will remain part of the franchise's ownership group.