The Pittsburgh Penguins are now officially being sold.
The Pittsburgh Penguins are officially being sold to the Hoffmann family.
After owning the team for four years, Fenway Sports Group has sold the Penguins to the Hoffmann family, who have been interested in buying the team for the past few months. The Hoffmann family owns the ECHL's Florida Everblades, and under their ownership, won three-straight Kelly Cups from 2022-24.
According to Sportsnet's Elliotte Friedman, the sale price is expected to be for $1.7 billion.
In the press release, Geoff Hoffmann, the CEO of Hoffmann Family of Companies, confirmed that they will support Penguins general manager and president of hockey operations Kyle Dubas as he tries to bring the team back to contention as urgently as possible.
"Our goal is to support Kyle Dubas with everything he needs to bring the Penguins back to the pinnacle of the NHL," Hoffmann said. "We look forward to working alongside the exceptional leadership team already in place, strengthening our connection with Penguins fans, and ensuring the franchise remains a source of pride for the city for generations to come."
FSG will still be a minority shareholder of the team for a period of time during the transition.
The sale is still subject to approval by the NHL's Board of Governors.
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