Fenway Sports Group Holdings, LLC (FSG), is the parent group company of Major League Baseball's Boston Red Sox, Premier League club Liverpool F.C., and the National Hockey League's Pittsburgh Penguins. FSG was founded in 2001 as New England Sports Ventures (NESV) when John W. Henry joined forces with Tom Werner, Les Otten, The New York Times Company, and other investors to successfully bid for the Red Sox. NESV formally announced its name change to Fenway Sports Group in March 2011.