After a series of turbulent performances in the NHL, Sidney Crosby and the Pittsburgh Penguins could witness a change in the ownership group. However, reports indicate Mario Lemieux will have to foot a hefty bill to reclaim his office in the City of Bridges.
The golden days of the 2010s are now a fading memory in Pittsburgh. Crosby, Malkin, and Letang may remain in town, but nothing is like it used to be. That’s a tough pill to swallow for fans of the Black and Yellow. Still, it’s one that they have no option but to live with.
Now, the Penguins may be entering their darkest hours and not even Crosby might save them. With no true north to guide them and no lighthouse in sight, the ship is adrift—slowly sinking into the abyss. With several players being shopped in the trade block, Pittsburgh might have waved the white flag before the puck dropped in the 2025-26 NHL season.
Things need to change—and perhaps the best place to start is at the very top. That’s what franchise legend Mario Lemieux seems to believe, as he’s reportedly interested in buying back the team. Lemieux sold the Penguins to Fenway Sports Group (FSG) in 2021, but it appears he’s had second thoughts and now wants back in. However, reports suggest there won’t be any discounts for the Hall of Famer.
Mario Lemieux waves to the crowd as he walks onto the ice for the Jaromir Jagr jersey retirement ceremony before the game between the Pittsburgh Penguins and the Los Angeles Kings at PPG PAINTS Arena on February 18, 2024 in Pittsburgh, Pennsylvania
“Lemieux and his partners are well below what Fenway would want to be the number,” insider Elliotte Friedman said on the 32 Thoughts Podcast. “The Lightning sold for $1.8 billion [in 2024], I gotta think that’s where the Penguins would want to be.”
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The men behind the bid
While Fenway reportedly has no intention to sell the Penguins, they are seeking a minority ownership group to chime in. However, Mario Lemieux, along with Ron Burkle and David Morehouse, believe the club might be for sale for the right price.
Lemieux and company had sold Pittsburgh for $900 million in 2021. Despite the rough waters the Pens have navigated since, the asking price has only gone up. On that note, keeping Crosby in town and quieting the buzz around a potential departure is key for both FSG and the potential new ownership. Watching #87 leave is a sight that no one wants to see in the Burgh.
Sidney Crosby #87 of the Pittsburgh Penguins warms up prior to Game Five of the First Round of the 2021 Stanley Cup Playoffs against the New York Islanders at PPG PAINTS Arena on May 24, 2021 in Pittsburgh, Pennsylvania.
More money
There is one big reason as to why the sudden urgency from Lemieux and company to acquire the organization. They smell something, and are following the trail. As reported by Josh Yohe on The New York Times, the NHL could welcome expansion teams in the coming years, and that translates on income for the current organizations.
As the buzz grows around potential new franchises in Atlanta and Houston, so does Mario Lemieux and company’s interest in regaining ownership of the Penguins. According to Sportico, each expansion team would likely pay around $2 billion to the NHL. That money would then be evenly distributed among the league’s 32 existing franchises—roughly $125 million each.
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Of course, Lemieux and Co. are well aware of this, but so is FSG, and the current owners won’t miss out on the golden-egg-laying goose for peanuts.
