Pittsburgh Penguins sold for nearly $2 billion
Per a new report from NHL analyst Frank Seravalli, the Pittsburgh Penguins are being sold to the Chicago-based Hoffman family from the Fenway Sports Group.
Reports indicate that the Pittsburgh Penguins are on the verge of having their 13th ownership group in just under 60 years of history.
Per multiple reports, the Chicago-based Hoffmann family is set to purchase the Penguins from the Fenway Sports Group, which has owned the club since it purchased it from Mario Lemieux and Ron Burkle in 2021.
The sale is also expected to be in the range of between $1.7 billion to $1.8 billion US.
NHL analyst Frank Seravalli shared the following details:
Seravalli also said that even though the Hoffmann group has allegedly not yet reached out to Lemieux, the former Penguins captain and franchise legend is open to a more visible presence around the team.
Sounds like the Hoffmann family hasn't yet reached out to Mario Lemieux - who will retain his minority share through the transaction - but that Lemieux could be open to a larger presence around the team under new majority ownership. - Frank Seravalli
The Hoffmann family already owns the Florida Everblades in the ECHL.
Fenway Sports Group Purchased The Penguins In 2021 From Mario Lemieux's Group
Fenway Sports Group bought the Penguins for a reported $950 million US from The Lemieux Group in 2021.
Even though Lemieux and Ron Burkle expressed interest in repurchasing a majority stake in the team, their alleged bid didn't meet the asking price.
The Penguins have not made the playoffs since 2022, which is the longest drought in the careers of Sidney Crosby, Evgeni Malkin and Kris Letang.