Fenway Sports Group has agreed in principle to sell the Pittsburgh Penguins to the Chicago-based Hoffmann family for $1.7 billion, pending approval from the NHL’s board of governors, reports Sportsnet’s Elliotte Friedman.
The Penguins have missed the playoffs in three straight campaigns. Pittsburgh had made the postseason for 16 consecutive years before the current drought. Franchise icons Sidney Crosby, Evgeni Malkin, and Kris Letang remain on the team.
Expected to be among the NHL’s worst teams this season, the Penguins have been competitive and currently sit one point out of a playoff spot.