Chicago-based family plans to buy the Pittsburgh Penguins organization
Photo credit: NHL.com
A Chicago-based family is reportedly in talks to buy the Pittsburgh Penguins organization, according to Elliotte Friedman.
The Penguins, who have been owned by the Fenway Sports Group since 2021, could soon see another major change in ownership.
Fenway purchased the team a few years ago for just under a billion dollars, but now, the price tag this time would nearly double.
The NHL world is no stranger to ownership shakeups, yet when a high-profile name shows real interest, the story tends to gain traction quickly.
Hoffmann Family Interested in Buying The Pittsburgh Penguins
According to multiple insiders, including Elliotte Friedman, the Hoffmann family has become a leading contender to acquire the Penguins. They plan to buy the organization, but as Friedman notes, there's several other bidders.
"David Hoffmann, founder and chairman of the Hoffmann Family of Companies, bought the Everblades from former Carolina Hurricanes owner Peter Karmanos in 2019. He told the Naples Daily News at the time that he'd looked into buying both NHL and NBA teams.
David's son, Geoff, the company's co-CEO, is also expected to be involved in the purchase.
Geoff Hoffmann and wife Megan have four boys, one of whom has type 1 diabetes. They created a hockey camp for children with that specific condition, which has been held at the ECHL team's arena."
David's son, Geoff, the company's co-CEO, is also expected to be involved in the purchase.
Geoff Hoffmann and wife Megan have four boys, one of whom has type 1 diabetes. They created a hockey camp for children with that specific condition, which has been held at the ECHL team's arena."
They are no strangers to hockey, as they currently own the Florida Everblades in the ECHL.
Led by David Hoffmann, who originally purchased the team back in 2019, the family has developed a reputation for building strong organizations, winning three straight Kelly Cups between 2022 and 2024.
The Hoffmanns aren't the only group showing interest.
Reports earlier this summer suggested that Mario Lemieux, Ron Burkle, and David Morehouse were exploring a return to ownership after selling the team to Fenway.
Attendance at PPG Paints Arena has dipped in recent seasons, and with the NHL expected to expand in the near future, the overall value of franchises is projected to rise. This has made the Penguins an attractive target for buyers looking for long-term growth.
Nothing is finalized yet, and talks are still ongoing. The expected sale price, should the deal go through, is rumored to be in the ballpark of $1.75 billion.
Fenway has maintained that the Penguins are not officially on the market, but with multiple groups circling, a major change could be on the horizon in Pittsburgh.
Previously on HawksInsider
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