Particle.news
Download on the App Store
16 ARTICLES
·
3d ago

FSG Agrees to Sell Penguins to Hoffmann Family at Reported $1.7–$1.8 Billion

The reported agreement awaits NHL Board of Governors approval.

Image
Dec 16, 2025; Pittsburgh, Pennsylvania, USA; The Pittsburgh Penguins celebrate a goal by right wing Bryan Rust (middle) against Edmonton Oilers goaltender Tristan Jarry (35) during the third period at PPG Paints Arena. Mandatory Credit: Charles LeClaire-Imagn Images
BOSTON, MA - January 2: David Pastrnak #88 of the Boston Bruins tries to stop Chad Ruhwedel #2 and Kasperi Kapanen #42 of the Pittsburgh Penguins during the first period of the Winter Classic at Fenway Park on January 2, 2023 in Boston, Massachusetts. (Staff Photo By Matt Stone/MediaNews Group/Boston Herald)
Nov 13, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Penguins center Evgeni Malkin (71) is joined by teammates center Sidney Crosby (rear center), defenseman Kris Letang (rear right) along with son Nakita Malkin, father Vladimir Malkin, mother Natalia Malkin and Fenway Sports Group chairman Tom Werner (right) as he is honored for recording his 500th NHL goal earlier in the season before a game against the Detroit Red Wings at PPG Paints Arena. Mandatory Credit: Charles LeClaire-Imagn Images

Overview

  • Hockey insider Frank Seravalli first reported the agreement in principle, which multiple outlets confirmed on Wednesday.
  • ESPN reports the expected sale price in the $1.7 to $1.8 billion range and says the NHL could call a vote before the next scheduled Board of Governors meeting in June.
  • Fenway Sports Group purchased controlling interest in late 2021 for about $900 million, positioning the sale as a sizable gain amid rising NHL franchise valuations.
  • The Hoffmann Family of Companies, led by David Hoffmann, already owns the ECHL’s Florida Everblades and has long expressed interest in acquiring a major-league franchise.
  • Key unresolved items include the timing of a formal announcement, Mario Lemieux’s prospective role, and the future of the Sportsnet Pittsburgh regional rights operation co-owned by FSG.