The Hoffmann Family of Companies has entered into a formal agreement purchase controlling interest of the Pittsburgh Penguins organization.
Earlier this week, it was reported that the Hoffmann family, who run a Chicago based investment company, were closing on a deal to purchase the Pittsburgh Penguins from the Fenway Sports Group for approximately $1.75 billion.
That deal is now under agreement and subject to approval from the NHL’s Board of Governors.
“When the opportunity arose to become the next stewards of one of the most respected organizations in sports, we knew we had to pursue it,” said Geoff Hoffmann, CEO of Hoffmann Family of Companies. “The Penguins’ on‑ice legacy and the values shared by the team and the city align naturally with ours. We’re here to build, grow, stay…and win.”
The Hoffmann family business currently oversees more than 125 global brands, including the Florida Everblades in the ECHL.
“Hockey has always been a meaningful part of our family’s story, which makes this an incredibly special opportunity,” Hoffmann said. “We’ve long admired the Pittsburgh Penguins – not just for their championship legacy and history, but for the culture, passion, and loyalty that define the organization. From our earliest conversations, we saw how deeply the Penguins are woven into the fabric of Pittsburgh. We are honored to join that tradition and excited to become an active part of the community.
Current Penguins president of hockey operations and general manager Kyle Dumas is expected to continue in his role with the team.
“The franchise has thrived under the world-class leadership of Fenway Sports Group, and we are excited to build on that momentum,” Hoffmann added. “Our goal is to support Kyle Dubas with everything he needs to bring the Penguins back to the pinnacle of the NHL. We look forward to working alongside the exceptional leadership team already in place, strengthening our connection with Penguins fans, and ensuring the franchise remains a source of pride for the city for generations to come.”
Fenway Sports Group, who purchased the Penguins from Mario Lemieux and Ron Burkle in 2021, are expected to maintain a minority shareholder role.
When the sale is officially completed, Geoff Hoffmann is expected to serve as the team’s Governor with the NHL’s board.
