Fenway Sports Group to sell Pittsburgh Penguins to Hoffmann family, reports say
The Pittsburgh Penguins are reportedly under new ownership.
It was announced on Wednesday that Fenway Sports Group has sold the Penguins to the Hoffmann Family of Companies, a Florida-based investment firm, according to The Athletic. A sale price was not immediately disclosed.
Fenway Sports Group purchased the Penguins from The Lemieux Group in 2021 for a price of $950 million. The Penguins were valued at $1.75 billion, according to Forbes' 2025 valuations of National Hockey League teams.
Who is The Hoffmann Family of Companies?
The Hoffmann Family of Companies is a highly diverse firm with its hands in several businesses, including agriculture, aviation, transportation, financial services, hospitality, and entertainment.
In 2019, the Hoffmann Family of Companies purchased the ECHL's Florida Everblades, an AA professional hockey team, two rungs under the NHL.
Since purchasing the Everblades, the team has been one of the league's most successful, winning three straight championships from the 2021-22 season until the 2023-24 season.
The Everblades have topped an average attendance of 6,000 in the past three seasons while playing in an arena that seats just over 7,100.
Along with owning the Everblades, the Hoffmann Family is also affiliated with the group "Type 1 Timer Hockey," a non-profit focused on hockey players who have been diagnosed with Type 1 diabetes. The group hosts camps for youth hockey players that include on-ice sessions as well as off-ice guidance from several different experts.
Lemieux Group reportedly showed interest in re-acquiring the team
As talks swirled over the summer months regarding a potential sale, Mario Lemieux also reportedly showed interest in re-acquiring the franchise; however, Lemieux's bid did not come close to what the team's estimated asking price was likely worth.