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Fenway Sports Group Sells Penguins to Hoffmann Family for $1.8 Billion

12/18/2025

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Summary

Story summary

Fenway Sports Group is set to sell the Pittsburgh Penguins to the Hoffmann family, a Chicago-based private-equity firm, for about twice the 2021 valuation of $900 million.
Fenway Sports Group acquired the Penguins in 2021, a year when Pittsburgh made one playoff appearance.
The Penguins are currently fifth in the NHL's Metropolitan Division with a 14-9-9 record.
The Hoffmann family has investments in finance, hospitality, media, and real estate.

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Story summary

Fenway Sports Group is set to sell the Pittsburgh Penguins to the Hoffmann family, a Chicago-based private-equity firm, for about twice the 2021 valuation of $900 million.
Fenway Sports Group acquired the Penguins in 2021, a year when Pittsburgh made one playoff appearance.
The Penguins are currently fifth in the NHL's Metropolitan Division with a 14-9-9 record.
The Hoffmann family has investments in finance, hospitality, media, and real estate.