Mario Lemieux-led ownership group is ‘very interested’ in buying back the Penguins, per report
Mario Lemieux may help resurrect hockey in Pittsburgh once again. The Penguins legend and Hockey Hall of Famer is part of a group that is “very interested” in buying the Penguins, according to The Athletic.
The Athletic had recently reported that Lemieux, fellow former co-owner Ron Burkle, and former chief executive Dave Morehouse (who is currently an advisor with the Pittsburgh Steelers) were looking into the possibility of buying back the Penguins from Fenway Sports Group (FSG), who acquired the team from them in 2021.
While FSG has announced that it is exploring adding a minority investor, the Lemieux group is reportedly looking into its financial options to see if it regain control of the Penguins again at some point. NHL commissioner Gary Bettman has reportedly been made aware of the group’s interest in rejoining the Penguins in an ownership capacity.
The Penguins are currently valued somewhere between $1.47 billion and $1.75 billion. The Lemieux-led group is reportedly hoping that FSG might be willing to consider a “reasonable” price considering Pittsburgh’s recent on-ice struggles and declining fan support. The Penguins sold just 91.4 percent of their available tickets last season, the lowest total of the Sidney Crosby era.
Lemieux, 59, is the most 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. In 2000, Lemieux returned the ice and helped lead the Penguins to a surprising run to the Eastern Conference Final.
Before his comeback, Lemieux was inducted into the Hockey Hall of Fame in 1997.
Lemieux’s final NHL season as a player was Crosby’s first season with the Penguins. In 2009, Crosby helped lead the Penguins to their first of three Stanley Cup wins with Lemieux serving as an owner.
The Penguins have been mired in mediocrity since Lemieux’s ownership team sold the franchise to FSG four years ago. Pittsburgh has not made the playoffs since 2022 after qualifying for the postseason each year from 2007-22. The team’s 80 points last season were the fewest by the franchise for an 82-game season since 2005-06.
