Mario Lemieux may aid in reviving hockey in Pittsburgh once more. The Penguins legend and Hockey Hall of Famer is part of a group that is “very interested” in purchasing the Penguins, according to The Athletic.
The Athletic recently reported that Lemieux, along with fellow former co-owner Ron Burkle and former chief executive Dave Morehouse (currently an advisor with the Pittsburgh Steelers), is investigating the opportunity to buy back the Penguins from Fenway Sports Group (FSG), which acquired the team from them in 2021.
While FSG has announced it is exploring options for a minority investor, Lemieux’s group is looking into its financial strategies to potentially regain control of the Penguins in the future. NHL commissioner Gary Bettman has also been informed of the group’s interest in rejoining the Penguins as owners.
The Penguins are currently valued at between $1.47 billion and $1.75 billion. The Lemieux-led group is reportedly hoping that FSG may consider a “reasonable” price given the team’s recent struggles and a drop in fan support. Last season, the Penguins sold just 91.4% of their available tickets, the lowest during the Sidney Crosby era.
Lemieux, at age 59, remains the most significant figure in franchise history. He transformed the Penguins from relative obscurity into back-to-back Stanley Cup champions in 1991-92. Despite battling cancer and retiring at 31, he was long regarded as one of the greatest players ever at the time of his first retirement.
Less than two years after retirement, Lemieux obtained controlling interest in the Penguins following the team’s bankruptcy, which put the franchise at risk of leaving Pittsburgh or folding entirely. In 2000, Lemieux returned to the ice, guiding the Penguins to a surprising run to the Eastern Conference Finals.
Before his comeback, Lemieux was enshrined into the Hockey Hall of Fame in 1997.
His final NHL season as a player coincided with Crosby’s initial season with the Penguins. In 2009, with Lemieux as an owner, Crosby led the Penguins to their first of three Stanley Cup championships.
The Penguins have faced declining performance since Lemieux’s ownership team sold the franchise to FSG four years ago. Pittsburgh has not reached the playoffs since 2022, having qualified for postseason play each year from 2007 to 2022. With 80 points accrued last season, this was the fewest by the franchise for an 82-game season since 2005-06.
