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The Hoffmann family, whose holdings range across an ever-expanding number of industries, is in the final stages of buying the NHL’s Pittsburgh Penguins, according to a report from ESPN.
In a story published on its website, the sports network quotes unnamed sources saying the deal to buy the team from Fenway Sports Group is pending approval from the NHL’s Board of Governors. A sale price wasn’t confirmed, but the report says it will likely be between $1.7 billion and $1.8 billion
In an email Thursday morning, a spokesperson for the family-run company, which has large presence in Southwest Florida business and philanthropic communities, writes that “HF Companies isn’t in a position to comment at this time, but we’ll reach out when we have further updates.”
The Hoffmann Family of Cos., which operates out of Naples, Chicago and St. Louis, owns more than 120 companies with 400 locations in 30 countries and employs 16,000 people. Its interests include agriculture; aviation and transportation; financial and professional services; hospitality and entertainment; manufacturing; marine; media and marketing; and real estate.
One of its holdings is the Florida Everblades, a minor league team based in Estero that it bought in 2019.
As for when the NHL’s Board of Governors could meet to discuss the sale, ESPN says the next meeting is scheduled for June, though a meeting could be called earlier.
Boston-based FSG owns, in addition to the Penguins, the Boston Red Sox, Liverpool F.C., RFK Racing, and Boston Common Golf. It bought a controlling interest in the Penguins in 2021 for a reported $900 million.
Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.
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