Who is the Owner of Pittsburgh Penguins?

Who Owns the Pittsburgh Penguins?

The Pittsburgh Penguins are owned by Fenway Sports Group (FSG), the multi-sport investment conglomerate led by John Henry and Tom Werner. FSG completed its acquisition of the Penguins in November 2021 in a deal valued at approximately $900 million, becoming the controlling owner. This transaction was a landmark in sports business — it gave FSG one of hockey’s most storied franchises and created one of the most diverse multi-sport ownership groups in North American professional sports history. Mario Lemieux, the franchise’s legendary player and former owner, retained a minority interest as part of the transaction.

Fenway Sports Group’s portfolio is remarkable in its breadth: the group owns the Boston Red Sox (MLB), Liverpool F.C. (English Premier League), Pittsburgh Penguins (NHL), RFK Racing (NASCAR), and various other sports and entertainment investments. John Henry serves as FSG’s principal owner, with Tom Werner as chairman and Mike Gordon as president. This cross-sport, cross-continental ownership empire is one of sports business’s most notable examples of how major investors have diversified their holdings across multiple leagues and countries.

The Penguins are privately held with no publicly traded shares. Kevin Acklin serves as the team’s President and CEO, managing business operations while the hockey side is directed by General Manager Kyle Dubas. The franchise plays at PPG Paints Arena in downtown Pittsburgh, which opened in 1999 as the Mellon Arena replacement and has been the Penguins’ home through their recent dynasty years.

About Fenway Sports Group and the Penguins’ History

Fenway Sports Group was founded by John Henry, who had previously owned the Florida Marlins (MLB) before purchasing the Boston Red Sox in 2002 for $660 million. Henry led the Red Sox to four World Series championships (2004, 2007, 2013, 2018), ending an 86-year drought, before expanding FSG into a global multi-sport platform. The acquisition of Liverpool F.C. in 2010 was transformative — under FSG’s ownership, Liverpool won the Premier League title and UEFA Champions League in 2019 and 2020 respectively, adding European football’s top honors to FSG’s championship portfolio.

The Pittsburgh Penguins’ own history is one of hockey’s greatest stories. The franchise was near bankruptcy in 1999 when it was purchased by a group led by Mario Lemieux — the greatest player in team history — who accepted deferred salary as equity to save the franchise. Lemieux’s ownership group built the team through drafting Sidney Crosby (2005) and other young stars, assembling the core that won five Stanley Cup championships: in 1991, 1992, 2009, 2016, and 2017. The Penguins are one of hockey’s most successful modern franchises.

Key Ownership Highlights

• Fenway Sports Group acquired the Pittsburgh Penguins in November 2021 for approximately $900 million. FSG’s principals — John Henry (principal owner), Tom Werner (chairman), and Mike Gordon (president) — became the controlling owners. Mario Lemieux, the franchise legend who saved the team from bankruptcy in 1999, retained a minority stake.
• Fenway Sports Group also owns the Boston Red Sox (MLB), Liverpool F.C. (EPL), and RFK Racing (NASCAR), making it one of sports business’s most globally diversified ownership groups. John Henry’s investment track record spans baseball, soccer, hockey, and motorsport.
• The Pittsburgh Penguins have won five Stanley Cup championships: 1991, 1992, 2009, 2016, and 2017. The 2009, 2016, and 2017 titles were anchored by Sidney Crosby and Evgeni Malkin, a combination considered among the greatest top-two center pairings in hockey history.
• Mario Lemieux, who played for the Penguins and is considered one of the greatest players in hockey history, rescued the franchise from bankruptcy in 1999 by converting $26 million in deferred salary into equity. His ownership tenure oversaw the drafting of Sidney Crosby in 2005 and three subsequent Stanley Cup championships before FSG acquired the controlling stake.
• Kevin Acklin became President and CEO of the Penguins in 2021, overseeing the franchise’s business operations during the FSG era. General Manager Kyle Dubas, who joined from the Toronto Maple Leafs, leads the hockey operations side as the Penguins navigate a roster transition away from the Crosby-Malkin era.

Frequently Asked Questions

Who owns the Pittsburgh Penguins?

The Pittsburgh Penguins are owned by Fenway Sports Group (FSG), which acquired the franchise in November 2021 for approximately $900 million. FSG is led by John Henry (principal owner), Tom Werner (chairman), and Mike Gordon (president). Hockey legend Mario Lemieux retains a minority interest.

Are the Pittsburgh Penguins publicly traded?

No. The Pittsburgh Penguins are privately held through Fenway Sports Group. There are no publicly traded shares of the franchise or FSG available on any stock exchange.

When did the Penguins last win the Stanley Cup?

The Pittsburgh Penguins last won the Stanley Cup in 2017, defeating the Nashville Predators in six games. It was the franchise’s second consecutive championship and fifth overall, cementing the Crosby-Malkin era as one of hockey’s great modern dynasties.

What other teams does Fenway Sports Group own?

Fenway Sports Group owns the Boston Red Sox (MLB), Liverpool F.C. (English Premier League), the Pittsburgh Penguins (NHL), and RFK Racing (NASCAR), among other sports and entertainment investments. It is one of the most globally diversified sports ownership groups in professional sports.

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