NHL officially approves sale of Penguins to the Hoffmann Family. Here's what comes next.
The sale of the Pittsburgh Penguins from Fenway Sports Group to the Hoffmann Family Companies was given unanimous approval by the NHL's Board of Governors this week.
Late last year, the team announced it entered into an agreement to be sold to the Hoffmann Family of Companies after about four years of being owned by Fenway Sports Group.
"It has been an honor to be part of the Penguins' story, working alongside a world-class leadership team, passionate fans, and a dedicated community," said Sam Kennedy, CEO of Fenway Sports Group, in December.
After the NHL's Board of Governors approved the acquisition, they said the transaction is expected to close "imminently."
While the Penguins were last valued at $1.75 billion according to Forbes in 2025, the financial terms were not disclosed.
Who is the Hoffmann Family of Companies?
The Hoffmann Family of Companies' acquisition of the Penguins won't be its first foray into the world of professional hockey.
They also own the ECHL's, the "AA" minor league under the NHL and AHL, Florida Everblades. Since its purchase of the Everblades in 2019, they have won four championships. They won for three straight seasons from 2022 to 2024 and, most recently, won the 2026 Kelly Cup.
"This is a defining moment for our family," said Geoff Hoffmann, incoming Governor of the Pittsburgh Penguins. "The Penguins represent everything Hoffmann Family of Companies stands for: community, excellence, and long-term thinking. We look forward to building on the team's success by providing support and resources to both Kyle Dubas and the hockey operations team, as well as the established leadership group on the business side. We're proud to represent this storied franchise and are eager to become an active, invested part of the Pittsburgh community."
They also have several businesses, including agriculture, aviation, transportation, financial services, hospitality, and entertainment.
In western Pennsylvania, they own Viking Plastics, which is headquartered in Meadville, Pa., as well as DHR Global, an executive search firm with offices in both Pittsburgh and Philadelphia.
Will Mario Lemieux be involved with the Hoffman Family?
Ever since selling the Penguins to Fenway Sports Group in 2021, the franchise legend and former owner Mario Lemieux has been seen less and less frequently at PPG Paints Arena.
Though he has been spotted at the Penguins' home more in the past year, The Athletic reports that team sources believe Lemieux will have a role with the team, but it's unclear what that role will be or when it would begin.
In what was a surprise move at the time, The Lemieux Group sold the Penguins to Fenway Sports Group for $900 million.
Can I still watch games on SportsNet Pittsburgh?
The Hoffmann Family of Companies, as part of the acquisition of the Penguins, also acquired the regional sports network, SportsNet Pittsburgh. While the team does own the network, it is operated by the Boston-based and Fenway Sports Group-owned TV network NESN.
Penguins games will remain on SportsNet Pittsburgh for this upcoming season, but according to a report, after this upcoming season, they will decide if they'll continue to have NESN run SNP.
