Mario Lemieux built a championship dynasty in Pittsburgh. Now he wants to own it again. As Sidney Crosby enters his 20th NHL season with questions swirling around his future, the legendary captain’s next chapter may depend on whether his former teammate can wrestle control back from the current ownership group.
Recent reports have revealed that Lemieux and his longtime partners, Ron Burkle and David Morehouse, are exploring a return to the ownership box. However, their path back isn’t simple.
Can Mario Lemieux and Ron Burkle Convince Fenway Sports Group to Sell?
While Fenway Sports Group (FSG), which bought the Penguins for $900 million in 2021, claims it isn’t looking to sell, multiple sources suggest otherwise. The disconnect lies in what each side wants. FSG appears open to bringing in a minority partner, but Lemieux’s group is only interested in regaining majority control.
Lemieux, who still holds a minority share in the Penguins and maintains close ties to Crosby, has made his position clear to those around the organization.
Mario Lemieux and Ron Burkle are trying to reacquire the Penguins four years after selling their majority shares.
Fenway Sports Group, which acquired the team in 2021 for a then-NHL-record $900M, says it does not want to sell—but Lemieux and Burkle believe FSG can be convinced.
— Front Office Sports (@FOS) July 29, 2025
According to insiders, he has no interest in a passive role. If he returns to ownership, it would only be as the primary decision-maker. NHL Commissioner Gary Bettman is reportedly aware of Lemieux’s renewed ambitions.
The timing adds urgency to these discussions. With declining ticket sales and another missed postseason, the Penguins face both financial and competitive pressure. Meanwhile, Crosby continues performing at an elite level at age 38, but he’s undeniably approaching the twilight of his career.
His future with the team may be directly tied to the outcome of ownership talks.
How Does NHL Expansion Impact the Penguins Ownership Situation?
Reports indicate that Lemieux and Burkle haven’t made an official offer yet, but talks with FSG are expected to begin soon. The NHL’s potential expansion could play a significant role in these negotiations.
Cities like Houston and Atlanta have shown interest in NHL franchises, and any new teams could fetch up to $2 billion each. That means current owners could receive over $100 million per franchise in shared revenue, creating a compelling financial incentive for ownership groups like Lemieux’s to act quickly.
Atlanta and Houston are clear frontrunners for multiple reasons. Biggest two metros/tv markets in NA w/o a team. Big corporate presence. Alpharetta is one of the most affluent areas in Georgia and is the center of the hockey community here. Both cities will thrive in the NHL! https://t.co/AhC6AC8mJb
— NHL to Atlanta (@NHLtoAtlanta) January 20, 2025
Under FSG’s stewardship, the Penguins have struggled to find their footing. Since 2021, they’ve failed to win a playoff round and have missed the postseason in consecutive years. This downturn has affected fan morale, something Lemieux’s return could potentially address, given his deep connection to the fanbase and the city.
What Does Sidney Crosby’s Future Hold in Pittsburgh?
Crosby remains at the center of every conversation about the franchise’s direction. Still producing at a high level, he’s become the symbol of stability amid a transitioning roster. However, even the captain may not stay if the rebuild stretches too long or if ownership changes create prolonged uncertainty.
General Manager Kyle Dubas desires to get younger, which could mean significant roster changes ahead. Names like Rickard Rakell and Bryan Rust may not return next season, while veterans like Erik Karlsson are rumored to be on the trade block. As the team looks to position itself for future draft capital, major moves seem inevitable.
Crosby’s relationship with Lemieux adds another layer to this ownership drama. The two share a unique bond that goes beyond hockey, and Lemieux’s potential return could influence Crosby’s decision about his future in Pittsburgh.
If this is indeed Crosby’s final campaign with the Penguins, it would mark the end of an era that included three Stanley Cup championships and countless memorable moments.
Depending on how the ownership situation unfolds, it might also mark the beginning of something entirely new for the franchise that Lemieux once saved as a player and then as an owner.
Are you on crack?
Crosby retires a Penguin. He still wears a 20 year old jock. He’s not going to change cities of his own volition and a full NTC means no one else can make that call for him either.