The Pittsburgh Penguins appear set for new ownership.
Fenway Sports Group has agreed in principle to sell the NHL team to the Chicago-based Hoffmann family, league sources confirmed to TSN Hockey Insider Pierre LeBrun on Wednesday.
LeBrun adds that the price tag for the club is expected to be between $1.7 billion US to $1.8 billion US.
The final sale of the club requires approval from the NHL’s Board of Governors.
The latest ownership change comes after Mario Lemieux, Ron Burkle and David Morehouse sold the team to the Fenway Sports Group in 2021.
Lemieux and Burkle initially purchased the team out of bankruptcy in 1999. The 2021 sale of the team was for a reported $900 million.
Led by John Henry, FSG continues to own the Boston Red Sox and Liverpool soccer club.
The Hoffmann Family of Companies, led by businessman David Hoffmann, carries more than 200 brands under its name.