Report: LeBron James Sports Group Looking to Purchase NBA Franchise

Los Angeles Lakers superstar LeBron James tries to win a title with his current franchise, but he will soon become the owner of another team. Fenway Sports Group has agreed to buy a controlling interest in the Pittsburgh Penguins. This move would add the Penguins to the group that already includes the Boston Red Sox and Liverpool FC. Pierre LeBrun from The Athletic reported that the purchase will hit $900 million.

The Penguins made a statement following initial reports, suggesting that current Penguins owners Mario Lemieux and Ron Burkle won’t leave the front office. Of course, the NHL’s Board of Governors will have to approve the move. The team revealed that they will complete the purchase by the end of this year.

“Fenway Sports Group wants to buy an NBA team once it’s done acquiring the NHL’s Pittsburgh Penguins, Axios has learned,” wrote Dan Primack of Axios. “Why it matters: FSG is pioneering a new sort of corporate sports ownership, buying up marquee franchises in different geographic markets.”

LeBron James and his partners planned to get the franchise

Earlier reports suggested that Fenway Sports Group had plans about the Penguins. This is a really good move.

“The Pittsburgh Penguins and Fenway Sports Group (FSG), a global sports, marketing, media, entertainment, and real estate company, today announced that FSG has entered into an agreement to acquire controlling interest in the Pittsburgh Penguins hockey team,” the Penguins announced. “The deal, which is subject to approval by the National Hockey League (NHL) Board of Governors, is expected to close before the end of the year.”

FSG chairman Tom Werner issued a statement as well. He said that the Penguins are a premier National Hockey League team with strong organization and excellent history. He also had some great words for the fan base. Werner promised that he and his team will continue to build on the remarkable tradition of championships.

FGS respects everything Lemieux and Burkle did for the team. He has great respect for their effort. The Penguins are a good team and FSG looks forward to working with the front office.