The Pittsburgh Penguins is a professional ice hockey team based in Pittsburgh, Pennsylvania. Founded in 1967, the team is competing in the National Hockey League as a member of the Metropolitan Division in the Eastern Conference. The Penguins have become one of the most successful franchises in the NHL with five Stanley Cups in 1991, 1992, 2009, 2016, and 2017. The Penguins played their home at the Civic Arena before moving to PPG Paints Arena in 2010.
The team is known for its rich history of legendary players, including Mario Lemieux, Sidney Crosby, and Evgeni Malkin. Mario Lemieux is also the co-owner of the team who rescued the franchise from bankruptcy in 1999. The Penguins also have their affiliate teams: the Wilkes-Barre/Scranton Penguins in AHL and the Wheeling Nailers in ECHL
Who is the owner of the Pittsburgh Penguins?
The Pittsburgh Penguins is owned by Fenway Sports Group (FSG). FSG is an American investment company. The FSG acquired the Penguins' major stake in December 2021. The FSG group also owns the Boston Red Sox (Major League Baseball), Liverpool FC (English Premier League), and other sports and entertainment properties.
The minor stake of the Pittsburgh Penguins is held by Mario Lemieux. Mario Lemieux is one of the greatest players in the NHL. He played for the Penguins between between 1984 and 2005. Mario helped the Penguins secure the Stanley Cups in 1991 and 1992. He again came to rescue the Penguins by becoming the co-owner of the team in 1999 when the franchise was on the verge of bankruptcy.
Mario became the first former player to own a majority stake in his former team. Under his leadership, the Penguins won three additional Stanley Cups in 2009, 2016, and 2017, becoming the only person to achieve this victory as a player and owner. Lemieux sold the majority stake to Fenway Sports Group in 2021 though he remains a minority partner and the chairman of the board.
What are the Pittsburgh Penguins worth?
The NHL team Pittsburgh Penguins is valued at $1.175 billion as per Forbes as of 2024. The FSG group purchased the majority stake of the franchise in 2021 for $875 million. The Penguins have won five NHL championships and generated significant revenue, totaling $207 million for the 2022-23 season, with an operating income of $49 million. The Pittsburgh Penguins have player expenses of $85 million and earn $69 million from ticket sales. The team is based in a metro area with 2.4 million population. The FSG group purchased the AT&T SportsNet Pittsburgh TV network and renamed it SportsNet Pittsburgh.
FAQs on Pittsburgh Penguins
A. The NHL team Pittsburgh Penguins is valued at $1.175 billion as per Forbes as of 2024.
A. Mario Lemieux sold the majority stake to Fenway Sports Group in 2021 though he remains a minority partner.
A. Fenway Sports Group is the majority owner of the Pittsburgh Penguins.
A. Mario Lemieux received around $350 million from the sale of the Pittsburgh Penguins to Fenway Sports Group for approximately $900 million.
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