PITTSBURGH (93.7 The Fan) – For the first time since the reports, the Pens have responded. The team says the Fenway Sports Group and Hoffmann Family of Companies have ‘entered into a definitive agreement for the Hoffmanns to acquire a controlling interest in the Pittsburgh Penguins’.
“During a formal process to explore investor interest in the Pittsburgh Penguins, we were approached by the Hoffmann family with an offer that warranted serious consideration,” said Sam Kennedy, CEO of Fenway Sports Group. “From our earliest conversations, their love of the sport and their commitment to doing things the right way made it clear they would be thoughtful stewards of the franchise, which is why we chose to seriously consider their interest. We plan to work closely with them to ensure a smooth transition and to carry forward the momentum that’s been built.
It has been an honor to be part of the Penguins’ story, working alongside a world-class leadership team, passionate fans, and a dedicated community. We are proud of the strong foundation we’ve built, and with Kyle Dubas continuing to lead hockey operations, the Penguins are well positioned to carry out the plan in place to reclaim their place as perennial Stanley Cup contenders.”
The Pens describe the Hoffmann Family of Companies as a ‘rapidly expanding, family-owned private equity enterprise of over 125 global brands’. They bought the Florida Everblades of the ECHL in 2019 as their lone sports entity.
“Hockey has always been a meaningful part of our family’s story, which makes this an incredibly special opportunity,” said Geoff Hoffmann, CEO of Hoffmann Family of Companies in the team release. “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.
“The franchise has thrived under the world-class leadership of Fenway Sports Group, and we are excited to build on that momentum. 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.”