The NHL's Board of Governors unanimously approved the sale of the Penguins from Fenway Sports Group to the Hoffmann Family of Companies in a vote at Tuesday's meeting in New York.
Gary Bettman told reporters after the meeting that the sale should be officially closed sometime before Friday's draft.
Geoff Hoffmann, CEO of the Hoffmann Family of Companies' Private Equity arm will serve as the Penguins' Governor. The Penguins' alternate governors will be Greg Hoffmann, CEO of the firm’s Real Estate arm; David Hoffmann, Founder & Chairman of Hoffmann Family of Companies, and Kyle Dubas.
"This is a defining moment for our family," said Geoff Hoffmann in a team release. "The Penguins represent everything Hoffmann Family of Companies stands for — community, excellence and long-term thinking. We look forward to building on the team’s success by providing support and resources to both Kyle Dubas and the hockey operations team, as well as the established leadership group on the business side. We're proud to represent this storied franchise and are eager to become an active, invested part of the Pittsburgh community."
The Hoffmann Family said in its own statement that Fenway Sports Group "will remain a minority shareholder for a period of time and continue supporting key business areas, including sponsorship sales and regional sports network management, as part of a phased transition. The Penguins’ leadership structure will remain unchanged, with the full executive team continuing in their current roles to ensure stability and consistency. At the helm of hockey operations, Kyle Dubas will continue to set the vision and oversee all aspects of the team’s on-ice strategy in his role as President of Hockey Operations and General Manager."
THE ASYLUM
Sale to Hoffmanns approved
The NHL's Board of Governors unanimously approved the sale of the Penguins from Fenway Sports Group to the Hoffmann Family of Companies in a vote at Tuesday's meeting in New York.
Gary Bettman told reporters after the meeting that the sale should be officially closed sometime before Friday's draft.
Geoff Hoffmann, CEO of the Hoffmann Family of Companies' Private Equity arm will serve as the Penguins' Governor. The Penguins' alternate governors will be Greg Hoffmann, CEO of the firm’s Real Estate arm; David Hoffmann, Founder & Chairman of Hoffmann Family of Companies, and Kyle Dubas.
"This is a defining moment for our family," said Geoff Hoffmann in a team release. "The Penguins represent everything Hoffmann Family of Companies stands for — community, excellence and long-term thinking. We look forward to building on the team’s success by providing support and resources to both Kyle Dubas and the hockey operations team, as well as the established leadership group on the business side. We're proud to represent this storied franchise and are eager to become an active, invested part of the Pittsburgh community."
The Hoffmann Family said in its own statement that Fenway Sports Group "will remain a minority shareholder for a period of time and continue supporting key business areas, including sponsorship sales and regional sports network management, as part of a phased transition. The Penguins’ leadership structure will remain unchanged, with the full executive team continuing in their current roles to ensure stability and consistency. At the helm of hockey operations, Kyle Dubas will continue to set the vision and oversee all aspects of the team’s on-ice strategy in his role as President of Hockey Operations and General Manager."
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