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Reports: Fenway Sports Group to Sell Penguins to Hoffmann Family
The Hoffmanns, owners of over 125 global brands and the Florida Everblades, will maintain current leadership and FSG retains a minority stake in the NHL team.
- The Hoffmann Family of Companies entered a definitive agreement to buy a controlling interest in the Pittsburgh Penguins from Fenway Sports Group.
- With existing hockey ties and charitable programs, the Hoffmann Family of Companies owns the Florida Everblades and founded Type 1 Timer Hockey, the only nonprofit camp for young athletes with type 1 diabetes.
- Kyle Dubas will remain president of hockey operations and general manager, Teddy Werner will continue as Interim President of Business Operations through closing, and Geoff Hoffman will serve as team governor with Greg Hoffmann and David Hoffmann as alternate governors.
- The sale remains subject to league approval as Fenway Sports Group will retain a minority stake and continue sponsorship and regional sports management functions.
- Community ties and franchise history framed the sale, with Fenway Sports Group CEO Sam Kennedy saying `From our earliest conversations, their love of the sport and their commitment to doing things the right way made it clear they would be thoughtful stewards of the franchise`.
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The Penguins have been sold!
After several reports alluding to the move earlier this week, it has been confirmed on Friday that the Hoffmann Family of Companies is acquiring a controlling interest in the franchise. The Hoffmann Family of Companies entered into a definitive agreement with Fenway Sports Group to acquire a controlling interest in the Penguins. The close of the transaction is subject to approval by the NHL Board of Governors and other customary approvals.The sa…
Coverage Details
Total News Sources28
Leaning Left8Leaning Right3Center11Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 36%
C 50%
14%
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