Hoffmann Family Scores Big: $1.7B Deal to Buy Penguins from Fenway Sports Group
Image Source: Internet
The Hoffmann family, a Chicago-based multi-generational private equity firm, has sealed a deal to acquire a controlling stake in the Pittsburgh Penguins from Fenway Sports Group. The agreement, valued between $1.7 and $1.8 billion, marks a significant shift in ownership for the NHL team. The sale comes after Fenway Sports Group announced its intention to explore investor interest in the Penguins. The Hoffmann family, which has owned the Florida Everblades of the ECHL since 2019, expressed its admiration for the Penguins' championship legacy and commitment to the community. "We've long admired the Pittsburgh Penguins for their history, culture, and passion," said Geoff Hoffmann, CEO of the Hoffmann Family of Companies. "We're honored to join that tradition and become an active part of the community.
