Elliotte Friedman Shoots Down Rumors Involving Penguins Sale

Ownership Change Will Not Alter Penguins' Direction

Fenway purchased the Penguins in 2021 for $950 million and is now finalizing a deal to transfer control to the Hoffmann family, a multigenerational investment firm with sports ownership ties, according to The Athletic.

Despite the change, Friedman reported on Saturday that there's no evidence pointing to a shift in management or hockey operations.

“From what I’m hearing, someone asked me, Do you think it’ll change the direction of the team?” Friedman said. “And there’s nothing I’ve heard in the days since this first came out that convinces me that their plan is changing.”

Dubas arrived in Pittsburgh in 2023, initially as president of hockey operations before taking on the GM role later that year.

Penguins Look Ahead for Final Sidney Crosby Years

Although the Penguins have failed to make the playoffs in all three seasons under Dubas and the franchise has lost more games each passing year, the GM remains central to the franchise's long-term plan as it approaches the end of the Sidney Crosby era.

The Penguins are entering their fourth season under Fenway’s control and with Dubas at the helm. Pittsburgh, however, is poised for a third change in majority ownership in just over a decade.

While former owners Mario Lemieux and Ron Burkle explored reacquiring the team, per The Athletic, the Hoffmann group has emerged as the frontrunner.

The Penguins remain one of the NHL’s most valuable and recognizable clubs, with Forbes assigning them a team value of $1.75 billion (as of Dec. 2024).

Crosby led the Penguins to Stanley Cup titles in 2009, 2016, and 2017, but he's entering the home stretch of his career after signing a two-year, $17.4 million extension that could see him hang up his skates when it's over in 2027.