PITTSBURGH — The Hoffmann Family of Companies has entered into a definitive agreement to acquire a controlling interest in the Pittsburgh Penguins from Fenway Sports Group.
The transaction is pending approval from the National Hockey League’s Board of Governors and other customary approvals, a release says.
“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,” Fenway Sports Group CEO Sam Kennedy said.
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Managed by brothers Geoff and Greg Hoffmann, Hoffmann Family of Companies is a family-owned private equity firm and owner of the Florida Everblades of the ECHL.
The family boasts more than 125 brands globally and employs more than 17,000 people. Their philanthropic efforts include the establishment of Type 1 Timer Hockey, a nonprofit dedicated to supporting young athletes with type one diabetes.
“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,“ Geoff Hoffmann said.
Fenway Sports Group, which acquired a controlling interest in the Penguins in 2021, will retain a minority stake in the team, continuing to support processes in sponsorship and regional sports management.
The current leadership structure will remain unchanged, with Kyle Dubas continuing in his role as president of hockey operations and general manager. Teddy Werner will serve as interim president of business operations during the transition.
Geoff Hoffman will serve as team governor, along with alternate governors Greg and David Hoffmann, when the deal is completed.
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