Mario Lemieux, the legendary Hall of Famer who once saved the Pittsburgh Penguins from bankruptcy, appears to be on the losing end of a bid to buy back the team.
But even if his group falls short, his shadow still looms large over the franchise, and any new owner will have to reckon with the legacy of No. 66. What’s the latest on the owner situation in Pittsburgh?
Will a New Penguins Owner Bring Mario Lemieux Back Into the Fold?
The Pittsburgh Penguins are currently owned by the Fenway Sports Group, which purchased the team from an ownership group led by former Penguins superstar Mario Lemieux and his business partner, Ron Burkle, for $900 million in 2021. The team’s value has increased considerably since then.
While reports surfaced in recent months that Lemieux, Burkle, and David Morehouse wanted to buy back the team, a new potential buyer has emerged. The Hoffmann Family of Companies has reportedly bested the offer from Lemieux’s group and, by all indications, will soon be the majority owners of the franchise.
However, that doesn’t mean Lemieux won’t be involved in some capacity. In a recent article for The Athletic, journalist Josh Yohe explained that not all hope is lost for Lemieux’s group or for Penguins fans who would love to see their beloved former captain run the show once again.
“A group that includes Mario Lemieux, Ron Burkle, and David Morehouse is still intrigued by the thought of purchasing the Penguins,” Yohe wrote. “However, the group almost certainly cannot match the asking price, which is believed to be between $1.7 billion and $1.8 billion.”
Yohe then noted that if the Hoffmann Family does take control of the franchise, they would want to begin on friendly terms with the most visible figure in Penguins history, who remains a pillar of the community.
“There is also no indication that Lemieux is involved with the Hoffmann family,” Yohe continued.
“That said, if the Hoffmann family takes over, you’d have to imagine their first phone call will be to No. 66. It’s no secret that Lemieux has a very frosty relationship with FSG. Having Lemieux involved, even in a minor capacity, would only help the Hoffmanns start on the right foot in Pittsburgh.”
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The Hoffmann Family already owns the Florida Everblades of the ECHL, a team they purchased from former Carolina Hurricanes owner Peter Karmanos in 2019. David Hoffmann, the founder and chairman of the Hoffmann Family of Companies, has spoken openly about wanting to purchase an NHL or NBA team.
This situation echoes a critical moment in the team’s past. In the late 1990s, the Penguins declared Chapter 11 bankruptcy but were saved by Lemieux after he converted more than $30 million that the team owed him into equity, taking control and preventing a near-certain relocation.
