The possibility of Mario Lemieux’s involvement could reignite the spark for hockey in Pittsburgh once more. As reported by The Athletic, the celebrated Penguins figure and Hockey Hall of Famer is among a group expressing “significant interest” in acquiring the Penguins.
Recent reports from The Athletic have indicated that Lemieux, alongside former co-owner Ron Burkle and previous chief executive Dave Morehouse (currently an advisor with the Pittsburgh Steelers), are exploring the option of repurchasing the Penguins from Fenway Sports Group (FSG), who initially obtained the team from them in 2021.
While FSG has publicly stated their intention to explore the addition of a minority investor, sources say the Lemieux group is evaluating its financial resources to determine the feasibility of regaining ownership of the Penguins sometime in the future. NHL commissioner Gary Bettman has reportedly been informed about the group’s intentions to potentially rejoin the Penguins in a leading role.
Current valuations place the Penguins in the range of $1.47 billion to $1.75 billion. The Lemieux-led group is purportedly hoping that FSG may be open to considering a “justifiable” price, particularly in light of Pittsburgh’s recent on-ice challenges and a perceived decrease in fan engagement. The Penguins achieved only a 91.4 percent ticket sales rate last season, marking the lowest figure recorded during Sidney Crosby’s tenure.
Lemieux, aged 59, remains the most iconic personality in the franchise’s history. He was instrumental in elevating the Penguins from relative obscurity to consecutive Stanley Cup victories in 1991 and 1992. Despite enduring a year-long absence during his prime due to health issues and initially retiring at the age of 31, he was widely regarded as one of the sport’s all-time greats at the time of his initial retirement.
Within a couple of years of retiring, Lemieux took over the Penguins after the team faced bankruptcy and risked relocation or dissolution. In 2000, Lemieux made his return to the ice and played a crucial role in guiding the Penguins to an unexpected appearance in the Eastern Conference Final.
Prior to his comeback, Lemieux received induction into the Hockey Hall of Fame in 1997.
Lemieux’s last season in the NHL coincided with Crosby’s debut season with the Penguins. In 2009, Crosby was instrumental in guiding the Penguins to their first Stanley Cup title, one of three achieved during Lemieux’s tenure as an owner.
Since the sale of the franchise by Lemieux’s ownership group to FSG four years prior, the Penguins have been struggling.. Pittsburgh has not participated in the playoffs since 2022, ending a streak of consecutive postseason appearances from 2007 to 2022. The team’s total of 80 points last season represented the lowest achieved by the franchise in an 82-game season since 2005-06.
