New Penguins owners will welcome Lemieux ‘with open arms’
NHL.com • • sports
Key Points:
- The Hoffmann family has purchased controlling interest in the Pittsburgh Penguins from Fenway Sports Group (FSG) for approximately $1.75 billion, a sale unanimously approved by the NHL Board of Governors.
- Geoff Hoffmann, CEO of HF Companies and Penguins governor, expressed eagerness to involve Mario Lemieux, a Penguins legend and former owner, in the team's future operations.
- Mario Lemieux, a five-time Stanley Cup champion with the Penguins, previously helped save the team from bankruptcy and relocation by converting deferred salary into equity and supporting the construction of PPG Paints Arena.
- Hoffmann emphasized a long-term commitment to keeping the Penguins in Pittsburgh, stating the ownership is focused on the city and organization rather than a short-term financial investment.
- The sale marks a significant increase in franchise value, with the Penguins being acquired for $900 million five years ago and now sold for nearly double that amount.
