As new Penguins owners, the Hoffmann family promises a commitment to winning -- and Pittsburgh
Published in Hockey
The Penguins officially have their third ownership group in less than five years. But the newly introduced Hoffmann Family of Companies plans to stop that carousel.
“The Penguins are going to be in Pittsburgh and always be in Pittsburgh as long as the Hoffmanns are part of it,” new Penguins governor Geoff Hoffmann said at the family’s introductory press conference Thursday. “And the Hoffmanns plan to be a part of this for generations to come.”
He sat between his father, David, and brother, Greg, in the sun-soaked Lexus Club at PPG Paints Arena as they laid out their vision for the franchise’s bright future — including hoisting a certain silver trophy.
“You will win in Pittsburgh. We’re committed to winning, whatever it takes. We give the resources. We give the autonomy. We put the right people in place to win,” company founder and chairman David Hoffmann said, touting the success of their ECHL franchise in Florida. “ ... We’ll give Kyle (Dubas) all the resources that he needs or whatever he needs to bring the Stanley Cup back here.”
The sale of the Penguins from Fenway Sports Group to Hoffmann Family of Companies was announced in December. It took six months before the NHL’s Board of Governors unanimously approved the $1.7 billion transaction Tuesday.
That delay raised concerns for a fanbase that’s dealt with multiple bankruptcies and relocation threats. The Hoffmanns tried to ease those fears by reaffirming their commitment to Pittsburgh — and to spending the money it takes to put a winner on the ice amid a rising NHL salary cap.
Spending money was not a problem for FSG. But establishing a good relationship with franchise icon Mario Lemieux and maintaining a public presence in Pittsburgh were problems that plagued the previous ownership group, at least in the eyes of fans.
While Geoff Hoffmann praised FSG, it sounds like they don’t plan to follow their predecessor’s lead in those respects.
The Hoffmann Family of Companies CEO of private equity said he’s spent time with Lemieux and the family is rolling out the red carpet for the Penguins legend.
“He’s been as good as advertised. Just a great, great guy,” Geoff Hoffmann said. “I’m really hopeful that he will be a part of this in whatever way, shape or form makes sense for him. ... Everybody would embrace him with open arms, especially the three of us up here.”
The Hoffmann contingent Thursday extended far beyond the men at the podium. Many family members sat in the audience, including several kids wearing Penguins jerseys.
The family seems set on spending time in the Steel City. Geoff said they’ve bought a house in Squirrel Hill, and that’s not the end of their real estate plans.
David said he and Greg, the CEO of the family’s real estate holdings, have discussed building a hotel in Pittsburgh.
“It just doesn’t seem like with all you have going on — four sports teams, three colleges and a vibrant community — that you have enough hotels,” David said, specifically mentioning the area around the arena.
That appears to be part of the family’s plans in the lower Hill District. FSG let the franchise’s exclusive rights to develop a 28-acre site in the area lapse last year, but the Hoffmanns sound committed to pursuing some growth there.
“Activating the space for the entire community of Pittsburgh and making it hopefully the jewel of the area is what we see as an opportunity,” Geoff said. “I don’t have all the history. I know it’s a very complicated issue and [there are] a lot of stakeholders to be satisfied, and I’m optimistic that we can get there.”
They praised PPG Paints Arena, and David called the lease from the city’s Sports and Exhibition Authority “very attractive” for ownership. But they intend to make the facility even better.
Geoff said they have plans for “improvement and modernization” to make it an “elite fan experience.” They have already started to draw up designs with architectural firms and hope to begin construction within 12-18 months.
We have to iron out those details, but we plan on touching pretty much every corner of the arena to make sure that it stays best in class,” he said.
One detail that appears to be nearly ironed out already: the Penguins’ ECHL affiliation. They’ve partnered with the Wheeling Nailers for the past 29 seasons, the longest active agreement in the league. But with the Hoffmanns already owning the Everblades, something had to give.
The family said they plan to keep the Everblades and hope to make the Estero, Fla.-based team the Penguins’ ECHL affiliate.
“I think they would run me out of Naples if they’re not,” David said. “We already have people wearing Penguins jerseys at our games, so I think the high expectation level is that’s going to happen.”
Their expectations for Dubas, the Penguins’ president of hockey operations, and coach Dan Muse may be even higher. Geoff called them “the best GM and coach in the league.”
On the ice, the Penguins are in the midst of a transition period.
Last season’s surprising second-place finish in the Metropolitan Division ended a three-year playoff drought, but most of the team’s stars — from Sidney Crosby and Evgeni Malkin to Kris Letang, Erik Karlsson, Bryan Rust and Rickard Rakell — are in their 30s. Malkin will be 40 next season.
Though Geoff said they are thinking of the long-term future of the organization, as well, it sounds like the Hoffmanns believe last season was the start of a promising run — not a one-year blip.
“They were able to put a successful team together, and that’s the expectation moving forward,” he said.
Penguins fans can expect to continue watching games on SportsNet Pittsburgh next season. But the regional sports network is operated by NESN, an FSG property, and there’s one year left on the Penguins’ deal. After that, it appears the team may have a new TV partner.
“It’s a changing landscape in local broadcast media rights,” Geoff said. “But I can tell you we want to get our games broadcast and available in as many homes as people that would like to see it and want to make sure we do it in a way that is easy to access.”
The Hoffmanns will bring in a president of business operations, a role previously held on an interim basis by FSG partner Teddy Werner. They plan to be present but not “micromanage” the franchise.
“In terms of making decisions on personnel, strategy, what’s happening on the ice, that’s Kyle’s department, for sure,” Geoff said. “We’re here in a support function.”
Along with support, they hope to bring stability.
“There’s certainly been some ups and downs, I think, on the business side of the organization,” Geoff said. “I’m here to tell you that has come to an end.
“We are long-term thinkers. This is not an investment for us as you think of a financial investment. This is a commitment to a city. It’s a commitment to an organization.”
_____
©2026 PG Publishing Co. Visit at post-gazette.com. Distributed by Tribune Content Agency, LLC.






Comments