Sportsnet’s Elliotte Friedman said at the time that he believed the Penguins would get sold at a valuation of $1.75 billion as the Fenway Sports Group was considering selling the franchise just under four years after making the purchase.
4. Also with Pittsburgh: the Hoffmann (sp.) family’s exclusive window to purchase the Penguins has expired. Doesn’t mean the sale can’t (or won’t) happen — I’ve heard they are still pushing to close — but the process is once again open to other bids.
The Penguins were reportedly valued at $900 million when FSG purchased a controlling stake in November 2021, Pierre LeBrun reported for The Athletic.
The previous ownership group of Mario Lemieux and Ron Burkle were reportedly also interested in re-purchasing the Pens, but the value of the franchise has increased so much since they got out that it might be cost-prohibitive a property for them to jump back into these days.