NHL officially approves sale of Penguins to the Hoffmann Family. Here's what comes next.

The NHL's Board of Governors unanimously approved the sale of the Pittsburgh Penguins from Fenway Sports Group to the Hoffmann Family of Companies, with the transaction expected to close imminently. The Penguins were most recently valued at $1.75 billion by Forbes in 2025, though the specific financial terms of the deal were not disclosed. The Hoffmann Family already has hockey experience, owning the ECHL's Florida Everblades, who have won four championships since 2019, including three consecutive titles from 2022 to 2024 and the 2026 Kelly Cup.