Fenway Sports Group has agreed in principle to a sale of the Pittsburgh Penguins to the Chicago-based Hoffmann family, sources confirmed to ESPN. The deal is pending approval by the NHL's Board of Governors.
While the exact sale price was not immediately confirmed, league sources expect the deal to land between $1.7 and $1.8 billion for the Penguins. FSG bought controlling interest of the Penguins in 2021 for $900 million.
Hockey journalist Frank Seravalli was the first to report on Fenway's agreement to sell.
The Penguins were previously owned by Ron Burkle and franchise legend Mario Lemieux, who had bought the team and saved it from bankruptcy in 1999.