Former Penguins Owners Mulling Buying Team Back From Fenway Sports

Pittsburgh's on-ice performance has declined in recent years.

Mario Lemieux waves to a Penguins crowd in 2024. / Charles LeClaire-Imagn Images

From an on-ice standpoint, Fenway Sports Group's stint running the Pittsburgh Penguins has been less than ideal.

Once the class of the NHL, the team has made just one playoff appearance since the consortium took over in Dec. 2021. The Penguins' point percentage has declined in each of the last four seasons—from .628 to .555 to .537 to .488.

A change may be coming to Pittsburgh, however. According to a Wednesday afternoon report from Pierre LeBrun of TSN and The Athletic, the Penguins' old owners are exploring buying back the team from Fenway Sports Group.

That group consists of investment baron Ron Burkle, longtime politico David Morehouse and—most notably—former Pittsburgh center Mario Lemieux. A Lemieux-centered group has owned the team since 1999, and is widely credited with saving the then-cash-strapped team from potential relocation. It retained a minority stake in the franchise after the '21 sale to Fenway.

Fenway Sports Group—in addition to the Penguins—also owns the Boston Red Sox, Liverpool and several other sports properties.

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