The Pittsburgh Penguins are a professional NHL (National Hockey League) franchise based in Pittsburgh, Pennsylvania, and founded in 1967 during the NHL expansion. Over the decades, the Penguins have grown into one of the league’s most successful and influential teams, winning multiple Stanley Cup championships in 1991, 1992, 2009, 2016, and 2017.
The team is known for its black and gold colors—mirroring other Pittsburgh teams like the Steelers and Pirates—and for producing generational talent such as Mario Lemieux, Jaromír Jágr, Sidney Crosby, and Evgeni Malkin. The Penguins play their home games at PPG Paints Arena, a state-of-the-art facility opened in 2010.
With a passionate fan base and a storied history, the Penguins remain a central pillar of Pittsburgh’s sports identity.
Ownership Status of the Pittsburgh Penguins
The Pittsburgh Penguins do not have a single private owner; instead, the team is owned through a major sports investment organization. As of the latest confirmed information, the majority owner is Fenway Sports Group (FSG), which acquired controlling interest in December 2021. As of 2025, the Boston Red Sox are also owned by Fenway Sports Group (FSG).
Former Penguins legend Mario Lemieux—who once owned the majority of the franchise—continues to hold a minority ownership stake. Before the sale, Lemieux and billionaire investor Ron Burkle jointly owned the team for more than two decades.
The team is privately held, meaning its shares are not traded on the public stock market.
Major Shareholders / Ownership Group
| Shareholder / Entity | Status | Notes |
|---|---|---|
| Fenway Sports Group (FSG) | Majority Owner | Took over control in December 2021, adding Penguins to its global sports portfolio. |
| Mario Lemieux | Minority Owner | Retained a significant stake after selling majority control. |
| Ron Burkle (past co-owner) | Former Partner | Co-owned the team with Lemieux before the FSG acquisition. |
Note: As a privately owned sports franchise, financial details about exact ownership percentages are not publicly disclosed.
About the Minority Owner – Mario Lemieux
Even after selling the majority share, Lemieux remains one of the most respected figures in Penguins’ history. His role as a minority owner keeps him involved in strategic decision-making and team legacy.
Mario Lemieux, often called “Super Mario”, is not only one of the greatest hockey players of all time but also one of the most impactful owners in NHL history. Drafted 1st overall by the Penguins in 1984, Lemieux spent his entire playing career with Pittsburgh, leading them to back-to-back Stanley Cups in 1991 and 1992.
In the late 1990s, the franchise faced severe financial difficulties, eventually filing for bankruptcy in 1998. Instead of allowing the team to relocate, Lemieux did something unprecedented—he converted over $30 million of owed salary into equity, forming a group to buy the Penguins and save them from collapse. In 1999, he officially became the first player-owner in NHL history.
Under his leadership as an owner, the team:
- Was financially revived
- Drafted superstar Sidney Crosby in 2005
- Won three Stanley Cups in 2009, 2016, and 2017
Even after selling majority control in 2021, Lemieux remains deeply respected for preserving the team’s legacy and keeping it in Pittsburgh.
Mario Lemieux Net Worth
As of the most recent estimates, Mario Lemieux’s net worth is approximately $200 million to $220 million.
His wealth comes from:
- A Hall of Fame NHL career, where he earned millions in salary and endorsements
- The Pittsburgh Penguins ownership stake, which significantly increased in value as the team grew into one of the most successful modern NHL franchises
- Investments in real estate
- Various business ventures
Lemieux’s initial investment in the Penguins is considered one of the most successful ownership turnarounds in sports history—turning a bankrupt franchise into a billion-dollar asset.
Key Shareholder Highlights
Fenway Sports Group (FSG)
FSG is one of the world’s most influential sports conglomerates, owning:
- The Boston Red Sox (MLB)
- Liverpool FC (Premier League)
- Fenway Park
- Several other sports and entertainment assets
Their acquisition of the Penguins marked their entry into NHL ownership, strengthening their international portfolio.
Recent Developments in Ownership
Recent news and financial reports indicate potential future ownership movement:
- In 2025, multiple reports suggested that FSG may consider selling the Penguins.
- The franchise was valued in discussions at around $1.75 billion.
- A Chicago-based group, the Hoffmann family, has reportedly shown strong interest in purchasing the team.
- Separately, a group led by Mario Lemieux and Ron Burkle has also expressed interest in reacquiring control.
These reports suggest that while FSG remains the current official owner, the franchise may experience an ownership transition in the coming years.
FAQs
1. Who is the current owner of the Pittsburgh Penguins?
The majority owner is Fenway Sports Group (FSG), with Mario Lemieux holding a minority stake.
2. Is the team publicly traded?
No, the Penguins are a privately owned sports franchise.
3. Who saved the Penguins from bankruptcy?
Mario Lemieux saved the team in 1999 by converting his unpaid salary into equity and purchasing the franchise.
4. Are there any recent ownership changes?
Yes. Reports from 2025 suggest that FSG is exploring a sale, with interest from the Hoffmann family and a Lemieux–Burkle-led group.
5. What is Mario Lemieux’s net worth?
His net worth is estimated between $200M – $220M.
Pittsburgh Penguins Official Website
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