Penguins End Strange Chapter With Sale of Team

The FSG Way: Business First, Hockey Second

FSG’s appointees to run the Penguins were businesspeople first and hockey people second, and that was always the core issue. The group has enormous resources and has never been shy about spending money, but the Penguins were never the priority in the way the Boston Red Sox or Liverpool are.

From the start, the team felt like an investment, not a calling. FSG didn’t plant roots in Pittsburgh, and that matters in a sports city where hockey is more than just entertainment.

From a hockey operations standpoint, FSG didn’t make glaring mistakes. It allowed management to spend to the salary cap. Players were treated well. When it was time to move on from Ron Hextall, the decision was made. Hiring Kyle Dubas as general manager and president of hockey operations was widely viewed as a smart, progressive step. But something was still missing.

A Missing Connection to Pittsburgh

In his most recent article, Penguins beat writer Josh Yohe summed it up bluntly.

“For the past year, the Boston-based group hasn’t had anyone from ownership living in Pittsburgh. That’s not good for business,” Yohe wrote, noting that while FSG doubled its investment, it “never made a dent in the Pittsburgh community.”

Yohe also offered some free advice to the Pittsburgh Penguins' new owners: call the guy who wore No. 66.

FSG’s relationship with Mario Lemieux wasn't great to say the least. Lemieux hadn’t been around much, partly by choice after two decades as an owner, but also because of a behind-the-scenes financial dispute that lingered for nearly a year. When it ended, FSG reportedly offered Lemieux money for public appearances — a move that misunderstood both the man and the city.

Getting Lemieux on your side changes everything, and FSG never seemed to grasp that. According to hockey insider Frank Seravalli, Lemieux will retain his minority ownership share through the transaction, giving the Hoffmanns a chance to strengthen the team’s connection to Pittsburgh and build on what FSG couldn’t.

A Promising New Chapter For Pittsburgh

The Hoffmann family brings something Penguins fans have been craving: owners who know and love hockey. They own the Florida Everblades of the ECHL, a franchise that won three straight championships from 2022 to 2024. That matters.

Anyone who followed the team or understands sports probably had a gut feeling that the Pittsburgh Penguins being owned by “Fenway” Sports Group was never going to be a great fit. Now, that experiment is over.

For everyone involved, let’s hope the next chapter is warmer — and far more connected — than the cold, transactional one that just ended.