CALGARY, Alberta -- Fenway Sports Group's agreement to purchase a majority interest in the Penguins has been finalized.
Mario Lemieux and Ron Burkle, previously the franchise's primary owners, will retain a minority interest.
Terms of the agreement were not announced, but Dejan Kovacevic reported that it is worth $900 million.
The deal still must be approved by the NHL Board of Governors -- a move widely regarded as a formality in this case -- and is expected to be completed by the end of the year, per an announcement by the Penguins.