HOFFMANN FAMILY TO ACQUIRE CONTROLLING INTEREST IN PITTSBURGH PENGUINS FROM FENWAY SPORTS GROUP
The Pittsburgh Penguins are set for a change in ownership after Fenway Sports Group (FSG) agreed to sell a controlling stake to the Hoffmann Family of Companies. The deal, announced this week, will see the Chicago-based family take over as majority owners, pending league approval. FSG will retain a minority share during a phased transition.
FSG and the Hoffmanns have signed a definitive agreement for the transfer of control. The transaction remains subject to approval by the NHL Board of Governors and other standard regulatory checks. Once finalised, Geoff Hoffmann will become the team’s Governor, with his brothers Greg and David serving as Alternate Governors.
The Hoffmann family, who own the Florida Everblades of the ECHL, bring a broad business background, including commercial real estate and operating companies. Geoff Hoffmann expressed enthusiasm about joining the Penguins and engaging with Pittsburgh’s community. He described the opportunity as a chance to contribute to the club’s long-standing tradition. FSG will continue supporting key areas such as sponsorship sales and regional sports network management for a period. The group’s CEO, Sam Kennedy, praised the Hoffmanns’ passion for hockey and their commitment to responsible ownership. Financial advisors Allen & Co. and CAA Evolution, along with legal firm Allen Overy Shearman Sterling LLP, assisted FSG in the deal. Current leadership will remain in place during the transition. Teddy Werner stays on as Interim President of Business Operations, while Kyle Dubas continues as President of Hockey Operations and General Manager, overseeing the team’s on-ice strategy.
The sale marks a shift in the Penguins’ ownership structure, with the Hoffmann family taking an active role in guiding the franchise. FSG’s gradual exit will ensure continuity in business operations until the transition completes. The deal’s finalisation now rests on NHL approval and standard closing conditions.
