Update emerges on Pittsburgh Penguins ownership talks as sale discussions shift
Photo credit: Edit from PFSN
It appears as though there will not be a deal coming between Fenway and the Hoffmann family, as NHL insider Josh Yohe revealed that talks have stopped.
According to NHL insider Josh Yohe, discussions between Fenway Sports Group and the Hoffmann Family of Companies have stalled.
Though a potential sale of the Pittsburgh Penguins was in motion, the two sides are no longer talking, and nothing about a deal seems imminent. It's not believed the door is fully closed, but momentum has clearly stalled.
"Talks between Fenway and the Hoffmann family have stopped. No deal."
- Josh Yohe
- Josh Yohe
What this shift in talks means going forward
With talks paused, speculation naturally shifts back to Mario Lemieux. Earlier this summer, The Athletic reported that Lemieux, former co-owner Ron Burkle, and former CEO Dave Morehouse, now an advisor with the Steelers, explored the possibility of buying back the Penguins from FSG, which purchased the team in 2021.
FSG has maintained a stance that it is open to adding a minority investor, but the Lemieux group has been weighing its financial options should an avenue to regaining control become clear.
It is believed NHL commissioner Gary Bettman has been made aware of their interest. Estimates value the Penguins in the range of $1.47 billion to $1.75 billion.
The Lemieux-led group is thought to be hoping FSG might consider a more "reasonable" price in light of the team's declining results and softening local support, with Pittsburgh selling just 91.4 percent of available tickets last season, the lowest figure of the Sidney Crosby era.
Why fans would love having Mario Lemieux as the team's owner
The 60-year-old Lemieux remains the most iconic figure in franchise history, leading the team to consecutive Stanley Cups in 1991 and 1992 while redefining the organization both on and off the ice.
With negotiations stalled and no timeline clear, the Penguins' ownership picture is wide open, and Lemieux's shadow now looms over the process once again.
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