A potential buyer for the Pittsburgh Penguins who had an exclusive window to buy the team has apparently allowed that window close. Earlier this year, news surfaced that the Hoffmann family, who are based out of Florida and own the ECHL’s Florida Everblades, had emerged as a serious contender to buy the Pittsburgh Penguins. Sportsnet’s […]
A potential buyer for the Pittsburgh Penguins who had an exclusive window to buy the team has apparently allowed that window close.
Earlier this year, news surfaced that the Hoffmann family, who are based out of Florida and own the ECHL’s Florida Everblades, had emerged as a serious contender to buy the Pittsburgh Penguins.
Sportsnet’s Elliotte Friedman said at the time that he believed the Penguins would get sold at a valuation of $1.75 billion as the Fenway Sports Group was considering selling the franchise just under four years after making the purchase.
Friedman mentioned the possible sale in his latest 32 Thoughts column, mentioning that the Hoffmann family’s exclusive window to buy the team has expired.
4. Also with Pittsburgh: the Hoffmann (sp.) family’s exclusive window to purchase the Penguins has expired. Doesn’t mean the sale can’t (or won’t) happen — I’ve heard they are still pushing to close — but the process is once again open to other bids.
The Penguins were reportedly valued at $900 million when FSG purchased a controlling stake in November 2021, Pierre LeBrun reported for The Athletic.
The previous ownership group of Mario Lemieux and Ron Burkle were reportedly also interested in re-purchasing the Pens, but the value of the franchise has increased so much since they got out that it might be cost-prohibitive a property for them to jump back into these days.
Category: General Sports
