One of the most intriguing - and unexpected - NHL stories of the summer has been coming out of Pittsburgh.
And it all started back in June, when a certain Penguins’ legend suddenly emerged as a potential suitor to re-purchase the Pittsburgh Penguins from their owner in Fenway Sports Group (FSG), who Lemieux and then co-owner Ron Burkle sold the team to back in December of 2021.
Since then, another name has emerged. And that would be the Hoffmann Family of Companies.
First reported by NHL insider Elliotte Friedman, David Hoffmann and his company have emerged as serious frontrunners to purchase the Penguins from FSG at a reported sale price around $1.75 billion, which is far more than the $900 million FSG bought the Penguins for in 2021.
The Hoffmann Family of Companies is Chicago-based, already purchased the ECHL’s Florida Everblades from the Carolina Hurricanes, and have long wanted to own an NHL team. All indications are that the Hoffmanns are serious about the Penguins, and - up to this point - FSG has put out no rebuttal to the claims about the Hoffmanns’ interest.
And this is in contrast to previous reports. Back in January, it was revealed that FSG was interested in taking the Penguins to market for a minority investment stake, and that stance was reiterated after Pierre LeBrun of TSN reported in June that Lemieux, Burkle, and ex-Penguins’ President David Moorhouse were interested in buying back the team.
“We’ve seen the speculation, and as we’ve previously shared with media, Fenway Sports Group is currently engaged in a process to explore a potential minority investment in the Pittsburgh Penguins,” FSG put out in a statement at the time. “The focus is on identifying a small, passive partner, and that is the current framework under discussion with potential investors.”
Is This The Right Time For Lemieux To Buy Back Penguins?There is one name that will forever be synonymous with the Pittsburgh Penguins. He saved the franchise on multiple occasions. He’s one of the greatest players in NHL history. And he mentored and helped shape one of his fellow greatest players in NHL history in Sidney Crosby.
Although it’s curious that they have not yet released any sort of statement in the wake of the Hoffmann family rumors, it does raise some questions - understandably so - about the state of the Penguins’ franchise. Many are worried about the fact that, if the sale happens, it would be the second ownership change in less than five years - marking not only a perceived “failure” on the part of FSG, but also a lack of interest in the Penguins as an organization.
There is also some concern among fans about Hoffmann’s ties to Kansas City, as his wife hails from there. The words “Kansas City” do strike fear in the heart of Penguins’ fans, as the team nearly relocated there in the early 2000s before a new arena deal in Pittsburgh was struck.
But, let’s make one thing clear: No matter who the owners of the Pittsburgh Penguins are, the Penguins are going to remain in Pittsburgh. And the love, fanfare, and interest surrounding the team has not faded and will not fade.
Whatever happens, the organization is in good hands. If FSG retains controlling interest in the Penguins - even if one of the other two groups does purchase a large minority share - the team will be more than fine. FSG may not have the “family-like” atmosphere that the groups led by Lemieux and Hoffmann might have, but they do have a large stream of cash that the team has benefitted from.
Both GM/POHO Kyle Dubas and Director of Player Development Tom Kostopoulos have remarked on several occasions how owners Tom Werner and John Henry are “all-in” from the investment and buy-in side of things. FSG has given the Penguins’ front office near-unlimited financial resources to work with, and it has resulted in a much larger player development staff as well as a more thorough, individualized approach to player development.
If the Penguins do get sold to the Hoffmann Family of Companies? That doesn’t figure to change. Pens’ fans can think of David Hoffmann almost like Ron Burkle in the sense that he’s a billionaire businessman interested in purchasing the team, but Hoffmann is also invested in hockey itself.
As mentioned before, there has long been interest on the Hoffmanns’ side of things about getting involved in NHL ownership. Having present and passionate owners - and the family-like setting back - would be a welcome change of pace for a team that has become a bit more “corporate” over the past few years.
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Then, of course, there’s Lemieux, Burkle, and Moorhouse. It might seem crazy that Lemieux and co. are interested in buying back the team for twice as much as they sold it for - and, by some accounts, Lemieux and his cohort are not willing to meet asking price at this point - but, here we are.
Pittsburgh would welcome back a franchise icon anytime. And there has certainly been no love lost between Lemieux, the city of Pittsburgh, and the Penguins.
But - regardless of what happens and who is calling the shots for the Penguins - rest assured that the team will be just fine.
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