It's understandable why Penguins fans might be leery of John Henry. After all, he holds no connection to the city, and is now swooping in as a billionaire outsider to make the Penguins part of his ever-expanding business portfolio.
Those are the same critiques Red Sox fans levied at Henry when he became principal owner of their treasured team 20 years ago. The Red Sox have won four World Series since then, and he's spent nearly $300 million on renovations to Fenway Park.
Fans of Liverpool FC also viewed Henry suspiciously, but he's resurrected the previously moribund club. Last summer, Liverpool became only the seventh team in history to hold the European Cup, European Super Cup, World Club title and domestic league title simultaneously.
Are you sensing a theme here? The notoriously reserved Henry may not ingratiate himself to the community, but his teams win.
The Penguins should be no exception. Like the Red Sox and Liverpool, they're one of the premier brands in their sport, and have a fan base with championship expectations.
On Tuesday, FSG president Sam Kennedy confirmed the group was close to acquiring the Penguins. But it's important to note this reportedly won't be a full Fenway Sports Group takeover. Mario Lemieux is expected to retain ownership position and leadership role in the organization, according to reports. David Morehouse is also staled to remain as CEO.
So what is Fenway Sports Group? It's the Boston Red Sox' parent company, which maintains majority ownership stakes in Liverpool, a NASCAR team (Roush Fenway Racing) and the regional sports network, NESN. Last spring, FSG received a $750 million infusion from RedBird Capital.
Around the same time, it announced LeBron Jame was joining the company as a partner.
While these different investments breed emotional conflicts of interest — how do you think Boston sports fans feel about Henry signing Sidney Crosby's checks? — there's no evidence FSG is skimping on its responsibility to field competitive teams. The Red Sox routinely boast one of the highest payrolls in MLB, slotting in last season at $189.5 million — and that was a down year. The Red Sox narrowly missed the luxury tax after spilling over multiple seasons.
Henry has a penchant for PR blunders. Most recently, he spearheaded the disastrous Super League idea, which collapsed in two days. Basically, 12 of the biggest teams in European soccer, including Liverpool, announced plans for a breakaway league so they could maximize their revenues — leaving smaller clubs behind.
Henry was reportedly set to be vice-chairman of the league, directly implicating him in the ill-conceived plot. He was forced to issue an awkward video apology to Liverpool fans.
When the Red Sox traded Mookie Betts, Henry waxed poetic about his childhood love of Stan Musial. Amazingly, that didn't change hearts and minds.
FSG chairman Tom Werner's infamous "Let's go Red Sox!" chant really says it all.
Known for conducing interviews over late-night email chains, Henry isn't a great communicator. But he spends money on his teams, and they win.
The championships make up for the lack of personal charm — most of the time.
