Speculation is circulating within the hockey world regarding a potential significant shift in the ownership landscape for the Pittsburgh Penguins. Reports suggest that a group led by iconic Penguins figure Mario Lemieux is expressing considerable interest in reacquiring the National Hockey League franchise from its current owners, Fenway Sports Group (FSG).
This potential move involves not only **Mario Lemieux** but also other key figures from the Penguins` recent past ownership and management structure, including former co-owner **Ron Burkle** and former chief executive **Dave Morehouse**. The group is reportedly evaluating its financial options to ascertain the feasibility of purchasing the club they previously controlled.
The timing of this reported interest coincides with FSG publicly exploring the addition of a minority investor in the team. However, the Lemieux-led group is reportedly aiming for a more substantial stake – a full return to controlling ownership. Sources indicate that NHL Commissioner **Gary Bettman** has been apprised of the group`s intentions.
Acquiring an NHL team in a major market like Pittsburgh is a substantial financial undertaking. Current valuations for the Penguins reportedly fall within the range of $1.47 billion to $1.75 billion. Despite this high market value, the Lemieux group is reportedly hopeful that FSG might consider a “reasonable” price, potentially factoring in the team`s recent performance decline and a noted decrease in ticket sales last season – the lowest percentage since the era of captain **Sidney Crosby** began.
This development carries significant historical weight. **Mario Lemieux**, arguably the most important figure in Penguins history, previously transitioned from legendary player to franchise savior and owner. In 1999, after the team declared bankruptcy and faced possible relocation or dissolution, Lemieux`s ownership group stepped in, preventing the team`s departure from Pittsburgh. He even made a remarkable return to play while simultaneously being an owner, a rare feat in professional sports.
Under Lemieux`s ownership, the Penguins achieved significant success, including three Stanley Cup championships (2009, 2016, 2017) during the Crosby-era dynasty. This period contrasted sharply with the team`s struggles before his intervention in ownership.
Since FSG acquired the Penguins from the Lemieux/Burkle group in 2021, the team`s on-ice fortunes have dipped. They have missed the playoffs in the last two seasons (2023, 2024), ending a remarkable 16-year postseason streak. The 80 points earned last season marked the team`s lowest total in a full 82-game schedule since the 2005-06 campaign.
Given Lemieux`s deep ties to the city, the franchise`s history under his stewardship, and the team`s current trajectory, the prospect of his group potentially buying back the Penguins adds a compelling narrative layer to the ongoing discussions about the team`s future direction. Whether finances and negotiation can align to bring `Le Magnifique` back into the owner`s box remains to be seen, but the interest is clearly present.
