Liverpool owners FSG land $170 million boost in just two years as next aim is clear
Fenway Sports Group purchased the Pittsburgh Penguins in 2021 after selling a stake of the company to RedBird Capital Partners.
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Since Fenway Sports Group (FSG) purchased Liverpool, the value of the club has increased significantly.
Under their previous name New England Sports Ventures, the Boston-based group paid £300 million to purchase from the Reds from Tom Hicks and George Gillett. While the much-maligned duo put one of the world's most iconic clubs on the verge of administration, FSG have brought financial stability.
During their tenure, seven major trophies have been won - including the Premier League and Champions League - while a significant investment of around £200 million has been made to upgrade Anfield to a 61,000-seat capacity and £50 million was splashed out on the AXA Training Centrel.
And with FSG in growth mode, another of their teams' valuation has also increased. After selling an 11% stake in the company worth around £533 million to RedBird Capital Partners in April 2021, FSG purchased National Hockey League team the Pittsburgh Penguins for a reported fee of around £720 million at the end of the year.
The Penguins are now embarking on their second full season under FSG's tenure, having missed out on the play-offs in 2022-23, which resulted in president of hockey operations Brian Burke, general manager Ron Hextall and assistant general manager, Chris Pryor all being relieved of their duties.
The aim for the Pennsylvania-based outfit this campaign will be to get closer to challenging for the Stanley Cup, having won five in their history. And having been owners for around two years, the Penguins' worth has gone up markedly. Earlier this month, Sportico estimated the Penguins' worth at $1.07 billion - some $170 million (£135 million) more.
However, the PPG Paints Arena side have dropped five places in the list to become the 21st-most valuable NHL team, having been leapfrogged by the likes of the New Jersey Devils ($1.16 billion) and the Minnesota Wild ($1.18 billion). The next aim for FSG will be to ensure that the Penguins enjoy a better 2023-24 on the ice rink. They defeated Stanley Cup holders Vegas Golden Knights on Sunday evening sit fifth in the Metropolitan Division.