BOSTON (CBS) — Fenway Sports Group is in the midst of acquiring the Pittsburgh Penguins. Once the group closes that deal, it will reportedly be looking to the NBA for its next mega purchase.
Dan Primack of Axios reported: On Wednesday, FSG plans to acquire an NBA team, noting that “FSG is pioneering a new kind of corporate sports ownership, buying up franchise franchises in different geographic markets.”
The report also noted that FSG — which of course owns the Boston Red Sox — had wanted to buy the Boston Bruins. However, the Bruins were not for sale.
Primack reported that the Penguins sale would be for about $875 million.
Once the deal is finalized, FSG will add the Penguins to its portfolio with the Red Sox, Liverpool FC and Roush Fenway Racing. According to the report, an NBA team will be the next organization to be added to that list. That chase is said to begin in 2022.