The Hoffmann Family of Companies has entered into a definitive agreement to purchase a controlling interest in the Pittsburgh Penguins from Fenway Sports Group. The Chicago-based family, known for its diverse business portfolio and ownership of the ECHL's Florida Everblades, aims to build on the franchise's legacy. The deal awaits approval from the NHL Board of Governors.
Fenway Sports Group (FSG) and the Hoffmann Family of Companies announced on December 20, 2025, that the Hoffmanns will acquire a controlling stake in the NHL's Pittsburgh Penguins. Headquartered in Chicago, the family has developed a broad array of operating businesses and real estate holdings. They have owned the Florida Everblades of the ECHL since 2019 and are committed to philanthropy, including founding Type 1 Timer Hockey in 2022, a nonprofit camp for young athletes with type 1 diabetes.
The transaction requires approval from the NHL Board of Governors and other standard clearances. FSG, which gained a controlling interest in the Penguins in 2021, will retain a minority ownership role during a phased transition and continue assisting with sponsorship sales and regional sports network operations.
"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. He praised the family's passion for hockey and commitment to the franchise, noting their role in ensuring a smooth handover. Kennedy highlighted the Penguins' strong foundation under Kyle Dubas, who will remain President of Hockey Operations and General Manager.
Geoff Hoffmann, CEO of the family company, expressed enthusiasm for the opportunity. "Hockey has always been a meaningful part of our family’s story, which makes this an incredibly special opportunity," he said. The Hoffmanns plan to support Dubas in restoring the team's competitiveness and deepen ties with Pittsburgh's community.
The Penguins' executive team will stay intact for stability. Post-closing, Geoff Hoffmann will serve as team Governor, with brothers Greg and David as Alternate Governors. FSG was advised by Allen & Co. and CAA Evolution financially, and Allen Overy Shearman Sterling LLP legally.
The Hoffmann Family oversees over 125 global brands across sectors like agriculture, aviation, and real estate, employing 17,000 people in 30 countries. FSG, owners of the Boston Red Sox and Liverpool FC, emphasized its focus on building enduring sports institutions.
