According to a report from The Athletic, Pittsburgh Penguins icon and Hockey Hall of Famer Mario Lemieux is part of a group expressing strong interest in repurchasing the team. The potential buyers include fellow former co-owner Ron Burkle and former chief executive Dave Morehouse, who currently serves as an advisor with the Pittsburgh Steelers. This group previously owned the Penguins before selling the franchise to Fenway Sports Group (FSG) in 2021.
While FSG has publicly stated they are exploring adding a minority investor, the Lemieux-led group is reportedly investigating its financial options with the aim of regaining majority control at some point. NHL Commissioner Gary Bettman has reportedly been informed of the group`s interest in returning to an ownership role.
The current valuation of the Penguins is estimated to be between $1.47 billion and $1.75 billion. However, the Lemieux group is reportedly hopeful that FSG might consider a more favorable price, possibly influenced by the team`s recent on-ice performance struggles and a noticeable decline in fan support. Last season, the Penguins sold only 91.4 percent of their available tickets, which represents the lowest figure recorded during the era of Sidney Crosby.
Lemieux, now 59, holds unparalleled significance in the history of the Penguins franchise. As a player, he famously guided the team from relative obscurity to consecutive Stanley Cup championships in 1991 and 1992. His storied playing career included overcoming health challenges like cancer and an initial retirement at age 31. He was inducted into the Hockey Hall of Fame in 1997, even before making a remarkable return to play.
Beyond his playing days, Lemieux played a critical role in saving the franchise itself. He acquired a controlling interest in the late 1990s when the team faced bankruptcy and potential relocation or dissolution. He made a celebrated return to the ice as a player in 2000, helping the revitalized team reach the Eastern Conference Final. As an owner, he was present for Sidney Crosby`s arrival and oversaw the team`s subsequent three Stanley Cup victories, starting with the first in 2009.
Since the sale of the franchise to FSG four years ago, the Penguins` performance has declined significantly. The team has missed the playoffs in both 2023 and 2024, ending a long postseason streak that began in 2007. Their total of 80 points last season was the fewest the franchise has accumulated in a full 82-game season since the 2005-06 campaign.
