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Mario Lemieux-led group expresses interest in buying Pittsburgh Penguins.
ByAinvest
Monday, Jul 14, 2025 9:51 pm ET1min read
An ownership group led by former Pittsburgh Penguins player Mario Lemieux is interested in buying the team from Fenway Sports Group. Lemieux, a two-time Stanley Cup winner, and his group, including former co-owner Ron Burkle and executive David Morehouse, have informed NHL Commissioner Gary Bettman of their intentions. The Penguins were valued at $1.47 billion in 2024.
An ownership group led by former Pittsburgh Penguins player Mario Lemieux has expressed interest in purchasing the Penguins from Fenway Sports Group (FSG). Lemieux, a two-time Stanley Cup winner, and his group, which includes former co-owner Ron Burkle and executive David Morehouse, have informed NHL Commissioner Gary Bettman of their intentions [1].The Penguins, valued at $1.47 billion in 2024, have been mired in mediocrity since FSG acquired the team in 2021. Pittsburgh has not made the playoffs since 2022, and the team's on-ice struggles have been accompanied by declining fan support, as evidenced by the sale of just 91.4 percent of available tickets in the 2024-25 season [2].
Lemieux, 59, is a prominent figure in franchise history. He led the Penguins from relative obscurity to back-to-back Stanley Cup titles in 1991-92. Despite missing a year in his prime due to cancer and retiring for the first time at age 31, he was considered one of the greatest players of all-time at the time of his first retirement. Less than two years into retirement, Lemieux gained controlling interest in the Penguins after the team had declared bankruptcy and was likely headed toward either leaving Pittsburgh or folding altogether [2].
Since acquiring the team, FSG has presided over just one playoff appearance, including straight postseason misses. The Penguins' recent record is in stark contrast to the team winning three league championships from 2009-17 [1].
The Lemieux-led group is reportedly exploring its financial options to see if it can regain control of the Penguins. They are hoping that FSG might be willing to consider a "reasonable" price considering Pittsburgh's recent on-ice struggles and declining fan support [2].
References:
[1] https://www.reuters.com/sports/group-led-by-mario-lemieux-very-interested-ownership-penguins-2025-07-15/
[2] https://www.cbssports.com/nhl/news/mario-lemieux-led-ownership-group-is-very-interested-in-buying-back-the-penguins-per-report/
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