It appears the Pittsburgh Penguins ownership has shifted around. Sources say that the Fenway Sports Group has agreed to sell the Penguins to the Hoffmann family. This group is led by David Hofmann. Let’s check out some of the details.
Sources say @FenwaySportsGrp has reached an agreement to sell the #NHL’s @penguins to the Hoffmann family, a Chicago-based investment group led by David Hofmann.
Official announcement expected in coming days.
— Frank Seravalli (@frank_seravalli) December 17, 2025
The Pittsburgh Penguins Sold by Fenway Sports Group
The Fenway Sports Group is definitely a sports superpower when it comes to the professional sports ownership scene. They own the Liverpool Football Club, Nascar’s RFK Racing, and of course, the famous Boston Red Sox franchise. They had bought the Penguins for $900 million back in 2021. With the rise of hockey franchises revenue increase in recent years, it isn’t a bad play for rich owners to sell. Good business move. Many of the National Football League franchises have been worth over a $1 billion, and disproportionately, compared to the other major sports, appear annually on the list of the top-100 franchises, whenever an outlet like ESPN or Forbes produce such lists.
The part that hockey fans are curious about is the role of former Penguin great, Mario Lemieux. It sounds like this sale will keep Lemieux’s minority stake in the club unaffected. At least that is the story at this time. Lemieux has remained on the ownership since initially getting on board in around September of 1999. He has primarily been in a minority role.
Lemieux’s presence has long been a welcoming sign for Penguin fans. There was a notion that when the Fenway group bought the Penguins back in 2021, that Mario himself profited upwards of ten-fold his initial purchase. You can only imagine with today’s economic climate, for instance the talked about $2 billion price tag on prospective expansion franchises, the increase in value of top NHL earners, individually and salary cap based.
Sounds like the Hoffmann family hasn’t yet reached out to Mario Lemieux – who will retain his minority share through the transaction – but that Lemieux could be open to a larger presence around the team under new majority ownership. https://t.co/WXxbT0v1ck
— Frank Seravalli (@frank_seravalli) December 17, 2025
Mario Lemieux has his named carved into Lord’s Stanley Holy Grail no less than six times. Le Magnifique. His long time ownership in the club was a way of him giving back as his playing days were winding down. Every Canadian hockey fan remembers two famous Mario Lemieux goals. First of all, the 1987 Canada Cup final on the rush with primary assist goat Wayne Gretzky and hard skating defenceman Larry Murphy.
The second being the 2002 Salt Lake City Winter Olympics to tie the American game at one.
Main Photo: Charles LeClaire-USA TODAY Sports
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