Over the past several months, there have been whispers that Fenway Sports Group (FSG) - current majority owners of the Pittsburgh Penguins - are looking to sell at least a minority stake in the team.
It has already been reported - first by Pierre LeBrun of TSN - that a group led by Penguins' legend and former majority owner Mario Lemieux is interested in purchasing back the team from FSG. The group includes former co-owner Ron Burkle and former Penguins' president David Moorhouse as well.
But, according to a new report, another group may be in the mix.
On Monday, NHL insider Elliotte Friedman reported that the Hoffman Family of Companies is interested in a potential purchase of the Penguins. Led by founder and chairman David Hoffman, the group is well-known in the state of Florida, as it purchased the Florida Everblades from the Carolina Hurricanes in 2019, and the ECHL team won three consecutive Kelly Cups from 2022-24.
According to Friedman, Hoffman has expressed previous interest in purchasing an NHL team, and if talks continue, Hoffman's son, Geoff - the company's co-CEO - is expected to be involved as well.
Fenway Sports Group Takes Penguins To Market For Minority Sale: What To Know
Fenway Sports Group - who's had controlling interest in the Penguins since 2021 - is still expected to retain majority share
Back in January, it was reported that FSG was looking to sell a minority stake of the Penguins for investment purposes, and at the time, FSG co-founders Tom Werner and John Henry reiterated that they still planned to retain a majority share of the team.
They reiterated that desire even after the Lemieux reports broke, stating, "The focus is on identifying a small, passive partner, and that is the current framework under discussion with potential investors.”
FSG officially bought the Penguins on Dec. 9, 2021, for $900 million. The current valuation of the team - and presumed sale price - is now at $1.75 billion, and it's believed by some that Lemieux is not expected to meet that asking price.
Is This The Right Time For Lemieux To Buy Back Penguins?
There is one name that will forever be synonymous with the <a href="https://thehockeynews.com/nhl/pittsburgh-penguins">Pittsburgh Penguins</a>. He saved the franchise on multiple occasions. He’s one of the greatest players in NHL history. And he mentored and helped shape one of his fellow greatest players in NHL history in Sidney Crosby.
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