"Sell off before Sid retires and fan base disappears": Fans react to Pittsburgh Penguins owners reportedly selling minority stake in $1.75B franchise

Fenway Sports Group, the owner of the Pittsburgh Penguins, is reportedly looking to sell a minority stake in the team. NHL insider Kevin Weekes shared this news on X, mentioning that FSG is exploring the market to sell part of the franchise, which is valued at $1.75 billion per Forbes' latest report. FSG is expected to keep controlling interest.

Weekes tweeted:

"**Breaking News** 🚨📰 In tandem with @emilymkaplan , we’re told the @FenwaySportsGrp are taking the @penguins to market this week to explore a potential sale of a minority ownership stake. While percentage is TBD, FSG expected to retain controlling interest. #HockeyX"

As soon as the Pittsburgh Penguins news surfaced, Fans reacted to the news.

"Smart. Sell off before Sid retires and the fan base disappears," one fan suggested hat the fan base could shrink after Sidney Crosby’s departure.

"They want to get away from what Dubas has done to this historic franchise," another fan wrote.

"So everything stays the same? Save your next post for something blockbuster like Crosby to Vancouver," a fan speculated.

Here are some more reactions from fans on X.

"Poverty franchise even with back to back cups. Sad. Sad fanbase too," one fan said.

"Makes sense, Fenway knows what they’re doing, a rebuild reduces revs and they want to spread the risk around 💰 - Sid to the swamps of jersey maybe. History w Fitzie," another fan said.

"Crosby to Seattle, he can thrive for a few more years as Sid the Squid, since he's too old to be Sid the Kid anymore," another fan wrote.

The Penguins’ future is taking a turn, and the hockey community is watching closely to see how this sale will impact the team.

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Pittsburgh Penguins was bought by the Fenway Sports Group in 2021

Fenway Sports Group bought the Pittsburgh Penguins in 2021 for $900 million from Mario Lemieux and Ron Burkle. Lemieux and Burkle owned the team since 1999 and saved it from bankruptcy. The Penguins are last in the Metropolitan Division with a 20-23-8 record.

FSG has taken similar steps with other sports properties. In 2023, they sold a minority stake in Liverpool FC. Besides the Penguins and Liverpool, FSG owns the Boston Red Sox and RFK Racing.

Under their ownership, the Red Sox broke an 86-year championship drought in 2004 and won three more titles. Liverpool won the UEFA Champions League in 2019 and the Premier League in 2020.

Any sale of a Pittsburgh Penguins stake will need the NHL Board of Governors' approval.