After a golden era during the mid-2010s, the Pittsburgh Penguins have yet to experience such highs again in the NHL. Instead, Sidney Crosby and company have—more often than not—found themselves in the league’s basement. Changes are needed, and legend Mario Lemieux reportedly thinks so, as he hopes to take over as majority owner.
The Penguins have enough on their plate as things stand. Heading into a season that will be Evgeni Malkin’s last in The Burgh, and could very well be Crosby’s finale, as well.
GM Kyle Dubas has his hands full trying to shop Bryan Rust and Rickard Rakell for draft capital and continue to invest in the long-term future rather than the grim-looking present. It’s not an easy pill to swallow, but the Penguins have seemingly made their peace with it.
Lemieux, however, wants to change the status-quo, and will stop at nothing to do so. As reports indicate, the former NHL superstar and former owner is hoping to regain full control of the organization in the City of Bridges.
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.
“Sources close to Lemieux have made it clear that Lemieux and Burkle are not interested in becoming minority owners. It’s all or nothing for the two men,” The Athletic’s Josh Yohe recently stated.
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Current ownership
The Penguins are currently majority-owned by Fenway Sports Group (FSG). As the name gives away, this group owns Fenway Park and the Boston Red Sox. Moreover, they are also at the helm of soccer giant and current Premier League champion, Liverpool Football Club.
“Lemieux, Ron Burkle and David Morehouse are involved, and their group believes Fenway will sell for the right price. Fenway purchased the Penguins from Lemieux and Burkle for $900 million in 2021,” The Athletic added. “Fenway has stated it isn’t interested in selling the team and is looking only for a minority investor to join in its ownership of the Penguins.”
Meanwhile, Lemieux and his investment group own a minority stake in Pittsburgh, but are now reportedly hoping to make a bid to become the sole owners of the five-time Stanley Cup champion franchise.
The team’s disappointing results have led to a considerable plummet in attendance, which is one of the reasons behind FSG’s interest in welcoming a new minority owner.
New era
The past few years have been anything but smooth sailing for Crosby and the Penguins. After missing the Stanley Cup Playoffs in three consecutive NHL seasons, head coach Mike Sullivan finally had enough. Or the Pens had enough of him. Either way, the two sides agreed to part ways ahead of the 2025-26 campaign.
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Sullivan didn’t go too far, however. Instead, he joined a fellow Metro Division rival—the New York Rangers. Crosby and the Penguins will face the Blueshirts and their former bench boss four times next season. Look no further than the season opener for the first meeting between the recently divorced parties. Moreover, two of Pittsburgh’s first three games will be against their Big Apple counterparts. Talk about taking time to grieve, right?
