WHAT ARE YOU LEARNING ABOUT THIS? YEAH. MIKE SHANNON, YOU KNOW, WE’VE BEEN REPORTING FOR SEVERAL MONTHS THAT FENWAY SPORTS GROUP HAS BEEN TRYING TO SELL A MINORITY STAKE IN THE PENGUINS THIS AFTERNOON. ACCORDING TO SEVERAL REPORTS, A SALE IS IN THE WORKS. CITING SOURCES, THE ATHLETIC AND ESPN ARE REPORTING FENWAY SPORTS GROUP HAS AGREED IN PRINCIPLE TO SELL THE PENS TO A CHICAGO BASED INVESTMENT GROUP LED BY THE HOFFMAN FAMILY. THE DEAL IS PENDING APPROVAL FROM THE BOARD OF GOVERNORS. PITTSBURGH’S ACTION SPORTS REACHED OUT TO THE LEAGUE. THE PENGUINS, THE HOFFMAN FAMILY AND FENWAY SPORTS GROUP. RIGHT NOW, ONLY FENWAY HAS RESPONDED, TELLING US, QUOTE, I’VE SEEN THAT REPORTING AS WELL, BUT THERE IS NO FORMAL AGREEMENT IN PLACE TO CONFIRM OR ANNOUNCE AT THIS TIME. FENWAY BOUGHT THE PENS IN 2021 FOR $900 MILLION. ESPN IS REPORTING THE SALE IS WORTH. BETWEEN 1.7 AND $1.8 BILLION. WELL, THE TEAM HAS MISSED THE PLAYOFFS THE LAST THREE SEASONS AND IS IN THE MIDST OF A REBUILD. IT SEEMS THE N
Pittsburgh Penguins to be sold to Chicago-based group, report
Updated: 4:17 PM EST Dec 17, 2025
Multiple outlets, including ESPN and The Athletic, citing sources, are reporting Fenway Sports Group has agreed in principle to sell the Pittsburgh Penguins to the Hoffmann Family of Companies based in Chicago.Penguins sale: Watch the breaking news report in the video player aboveA spokesperson for FSG told Pittsburgh’s Action Sports by e-mail on Wednesday, “I’ve seen that reporting as well but there is no formal agreement in place to confirm or announce at this time.”Earlier this year, FSG was seeking investors to take on minority ownership of the Penguins.In June, Mario Lemieux and Ron Burkle, who remain minority owners, announced they wanted to buy back the team.Now, according to these reports, FSG has agreed to sell to Hoffmann.We have reached out to the NHL, Penguins and Hoffman Family of Companies, and haven’t gotten a reply.
PITTSBURGH —
Multiple outlets, including ESPN and The Athletic, citing sources, are reporting Fenway Sports Group has agreed in principle to sell the Pittsburgh Penguins to the Hoffmann Family of Companies based in Chicago.
Penguins sale: Watch the breaking news report in the video player above
A spokesperson for FSG told Pittsburgh’s Action Sports by e-mail on Wednesday, “I’ve seen that reporting as well but there is no formal agreement in place to confirm or announce at this time.”
Earlier this year, FSG was seeking investors to take on minority ownership of the Penguins.
In June, Mario Lemieux and Ron Burkle, who remain minority owners, announced they wanted to buy back the team.
Now, according to these reports, FSG has agreed to sell to Hoffmann.
We have reached out to the NHL, Penguins and Hoffman Family of Companies, and haven’t gotten a reply.