NHL News: Sidney Crosby's Penguins reportedly set to switch hands after Mario Lemieux's failed attempt to re-take control

The summer of 2025 has been a rollercoaster for Sidney Crosby and the Pittsburgh Penguins. Yet, the ride apparently saved its biggest drop for the last seconds before the NHL season. Now, a change in the organization’s brass feels imminent.

Franchise legend and former owner, Mario Lemieux, has had his eyes set on re-taking control of the organization in The Burgh. Still, his objective seems to have been to no avail. As reports around the NHL suggest a transaction is inevitable in Pennsylvania, it isn’t Lemieux who is behind the purchase.

According to insider Frank Seravalli, Crosby and the Penguins are set for an ownership change ahead of the 2025-26 NHL campaign. Currently owned by Fenway Sports Group (FSG), the five-time Stanley Cup-winning franchise is in line for a major shake-up.

“Sources indicate that the Fenway Sports group is closing in on a sale to the Hoffman Family,” Seravalli said on Bleacher Report’s Insider Notebook. “That sale is on track to close.”

Sidney Crosby #87 of the Pittsburgh Penguins against the Philadelphia Flyers at Heinz Field on February 25, 2017.

The price to pay

The organization in the City of Bridges is enduring tough times in the NHL. After missing the Stanley Cup Playoffs for three consecutive seasons, Crosby and the Penguins could use a drastic change. However, they remain wary of what that might bring. As it stands, the upcoming season is shaping up to be even more chaotic than the previous ones.

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NHL News: Penguins’ ownership shift could narrow Sidney Crosby’s Stanley Cup window

Still, the price tag didn’t include any discounts for the Hoffman family. According to Seravalli, the purchase is expected to be valued at around $1.75 billion. For reference, Fenway acquired the club from Lemieux for roughly $900 million—a nearly 94% increase.

For what it’s worth

The Hoffman family’s arrival in Pittsburgh is one that could have fans excited. The family has experience in handling a professional hockey club, though not in the NHL.

In 2019, the Hoffman family acquired the Florida Everblades in the East Coast Hockey League (ECHL). Since, the franchise in Estero, Florida went on to complete a three-peat, hoisting the Kelly Cup in 2022, 2023, and 2024.

Of course, the NHL is a different beast, and so are the Penguins, who are far from competing for silverware. Still, that could change with the right guidance—and a bit of luck, like landing the first overall pick in the 2026 Draft to select Gavin McKenna.