One of the NHL’s most famous franchises is changing hands.
Just over six months after Fenway Sports Group agreed to sell the Pittsburgh Penguins to the Hoffman family, the new ownership group received approval from the NHL Board of Governors on Tuesday.
Though the sale price was not confirmed following Tuesday’s approval, Sportsnet’s Elliotte Friedman reported in December that the sale was worth $1.7 billion. That figure would represent a healthy profit for FSG, after it bought the Penguins in November 2021 for a reported $900 million.
FSG's tenure as owners in Pittsburgh was bookended by a pair of first-round exits, with a three-year playoff drought in between, despite the retention of franchise stalwarts Sidney Crosby, Evgeni Malkin and Kris Letang.
The acquisition of the Penguins is the Hoffman family’s first foray into professional sports at the highest level, but they do own the Florida Everblades of the ECHL.
In six seasons under the Hoffman family's ownership, the Everblades have made the playoffs each year and won the Kelly Cup four times, including this past season.
5:57
