Pittsburgh Hockey Insider has no direct affiliation to the Pittsburgh Penguins, NHL or NHLPA
Mario Lemieux Misses Out as Penguins Near $1.75B Sale to Hoffmann Family
The Pittsburgh Penguins sale has been long rumoured, and now Frank Seravalli reveals the price that FSG is likely selling to the Hoffmann Family.
For weeks now, it has been rumoured that the Pittsburgh Penguins were closing in on a sale, as current owners Fenway Sports Group were weighing up interest from the Hoffmann Family and former Penguins superstar Mario Lemieux.
While it hasn't been made official by the organization, it now appears as though they've made up their mind, and for the Penguins fans that wanted to see Super Mario back in charge, it's not great news.
Penguins' Ownership Shift: Fenway Sports Group Exits, Hoffman Family Steps In
According to NHL Insider Frank Seravalli, FSG are closing in on a deal that would transfer ownership of the Penguins organization to the billionaire Hoffman Family, the group that joined the race for ownership very late after weeks of speculation involving the Lemieux led group.
Sources indicate that the Fenway Sports group is closing in on a sale to the Hoffman Family; that sale is on track to close; the expected valuation...$1.75 billion dollars
How Lemieux's Stake in the Franchise Slipped Away Before Historic Sale
It's unclear at this point why FSG went with the Hoffman Family if this report from Seravalli is accurate, with the price of the sale coming in at $1.75 billion, as that is perhaps a number that the Lemieux led group couldn't get too.
Now, the Penguins have simply been sold to the highest bidder, with the Hoffmann Family being the current owners of the ECHL's Florida Everblades, showing that they do have significant interest in hockey beyond the money situation.
Ultimately, only time will tell if this was a good move for the Penguins organization, and while many wanted to see Lemieux back in charge, it appears as though that dream is now gone.
| POLL | ||
AOUT 27 | 103 ANSWERS Mario Lemieux Misses Out as Penguins Near $1.75B Sale to Hoffmann Family Is this the right move to make for Fenway Sports Group? | ||
| Yes | 25 | 24.3 % |
| No | 78 | 75.7 % |
| List of polls | ||