Fenway Sports Group LLC, owners of the Boston Red Sox and Liverpool, have signed an agreement to purchase the Pittsburgh Penguins, reports Michael Silverman of the Boston Globe.

The purchase price is currently unknown, and the NHL still needs to approve the deal before it's official.

Pittsburgh's previous owners, Ron Burkle and Mario Lemieux, will reportedly remain part of the ownership group, and the Penguins' senior management team will stay in place.

Burkle and Lemieux have owned the Penguins since 1999, saving the franchise from bankruptcy and overseeing three Stanley Cups from 2009-17.

Fenway Sports Group reportedly sought a merger with Maple Leafs Sports and Entertainment before pursuing Pittsburgh, but the Toronto-based conglomerate wasn't interested.

The Penguins were valued at $845 million in October, the 15th-highest total in the NHL, according to Sportico.

Copyright © 2021 Score Media Ventures Inc. All rights reserved. Certain content reproduced under license.