The sale of the Penguins to Fenway Sports Group is official.
NHL Commissioner Gary Bettman announced that the league's Board of Governors unanimously approved the deal during a meeting Thursday in Manalapan, Fla.
A press release subsequently issued by the league said that, "The purchase remains subject to negotiation and execution of documentation before the transaction can be closed."
The sale price reportedly is $915 million and Mario Lemieux and Ron Burkle, previously the team's majority owners, are expected to retain a combined five percent interest in the franchise.
Fenway Sports group's holdings include the Boston Red Sox and Liverpool Football Club.