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Report: Fenway Sports Group Agrees to Sell Pittsburgh Penguins ...
- On December 17, 2025, Fenway Sports Group agreed in principle to sell the Pittsburgh Penguins to the Chicago-based Hoffmann Family of Companies, hockey insider Frank Seravalli first reported Wednesday.
- Earlier this year, Fenway Sports Group sought investors for minority ownership of the Penguins after its 2021 purchase for $900 million, with the franchise now valued at $1.75 billion.
- League sources say the sale is likely priced between $1.7 and $1.8 billion, with multiple outlets reporting the agreement pending approval by the NHL Board of Governors.
- Mario Lemieux and Ron Burkle signaled in June they wanted to buy back the team, while one early business decision for new ownership will be how to handle SportsNet Pittsburgh.
- The Hoffmann Family, led by David Hoffmann, brings a global private-equity portfolio to NHL ownership, operating more than 200 brands in 30 countries and owning Florida Everblades , which won three Kelly Cups.
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The Pittsburgh Penguins are getting a new owner, The Athletic reports. The NHL club is being sold to a family from Chicago. The sale is expected to be worth the equivalent of $16 billion.
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Coverage Details
Total News Sources37
Leaning Left10Leaning Right2Center12Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 42%
C 50%
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