Respected NHL Agent Reveals Rangers' Divisional Rivals Franchise Has Doubled In Value Amid Ongoing Sale
Photo credit: NHL.com
With news of the Fenway Sports Group getting out of the NHL by selling the Pittsburgh Penguins, the league's rogue Agent Allan Walsh reported on some interesting news. While FSG owned the franchise, which was part of the 1967 expansion, the team's value has doubled over the last four seasons. Will the Hoffman Sports Group own the New York Rangers' Metropolitan Division rivals?
The New York Rangers' rival, the Pittsburgh Penguins, are in the process of being sold. With news gaining steam that the Fenway Sports Group doesn't like the way the NHL is run with Gary Bettman (who can blame them), a sale brings in financial examinations.
Allan Walsh is one NHL agent who gets to look at the team's books and make deals with NHL teams on which his players sign deals.
For Walsh, he only has one contract with the Penguins, which pays Boko Imama an $775K league minimum.
The Pittsburgh Penguins: From $900 million to $1 billion
A paltry sum for a franchise whose value has doubled.
When Fenway Sports Group bought the team in 2021, it was worth $900 million. This was after three Stanley Cup wins, and a winning roster dismembered by attrition.
For the Penguins, in even more precarious times, it seems the brand never dies as they've been given a valuation of $1.75 billion.
Quite an investment by FSG, you could say.
The FSG purchased a controlling interest in the Pittsburgh Penguins in 2021 for $900 million, adding an NHL team to an ownership portfolio including the MLB's Boston Red Sox and the Premier League's Liverpool FC.
The New York Rangers don't seem to have much of a threat in the Penguins, as not only have they hired their former Head Coach, but GM Kyle Dubas is tearing the team down to the foundation.
It looks like Sidney Crosby is one of the only driving forces behind the team's momentum to this day.
Previously on NYRangersInsider
| POLL | ||
AOUT 28 | 96 ANSWERS Respected NHL Agent Reveals Rangers' Divisional Rivals Franchise Has Doubled In Value Amid Ongoing Sale Do you think the Pittsburgh Penguins should be worth $1.75 billion in their current state? | ||
| Yes | 32 | 33.3 % |
| No` | 64 | 66.7 % |
| List of polls | ||
