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2d ago

NHL Approves Sale of Pittsburgh Penguins to Hoffmann Family

Reported near $1.7–$1.75 billion, the sale hands majority control to the Hoffmann Family, preserves a temporary Fenway minority, and signals near-term changes to minor-league affiliation, regional broadcast ownership.

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Deadspin.com
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Overview

  • The NHL Board of Governors gave unanimous approval on Tuesday, June 23, clearing the way for an imminent closing of the Hoffmann Family’s majority purchase of the Penguins.
  • The transaction is reported at roughly $1.7–$1.75 billion, a near doubling of Fenway Sports Group’s 2021 purchase price and a reflection of rising NHL franchise values.
  • Geoff Hoffmann will serve as the team governor with other Hoffmann family members designated as alternate governors, and Fenway Sports Group will retain a temporary minority stake during the transition.
  • At an introductory press conference the new owners pledged a visible, local presence, said they will give GM Kyle Dubas resources and autonomy to build the roster, and expressed hope that Mario Lemieux will have a larger role going forward.
  • The Hoffmanns plan operational changes including moving the Penguins’ ECHL affiliation toward their Florida Everblades and taking RSN equity while leaving SportsNet Pittsburgh’s NESN operation in place for at least the 2026–27 season.