PITTSBURGH — As first impressions go, the Hoffmann family went top shelf Thursday at the new owners’ introductory news conference at PPG Paints Arena.
They talked a big game without coming across as arrogant or filled with bravado, they opened the door for Mario Lemieux to join them, and they made it clear that they intend on investing in the Penguins — and Pittsburgh — for generations to come.
Here are 10 observations from a significant day in Penguins history.
• Geoff Hoffmann, who will serve as governor and the face of Penguins ownership, wanted to alleviate any financial concerns that the fans may have.
While the Penguins have been financially stable since 2007, when it was announced that a new building had been approved, the franchise has filed for bankruptcy multiple times and flirted with leaving for other cities on numerous occasions.
Hoffmann said those days are over.
“It’s a storied franchise in a lot of different ways,” he said. “There have been some ups and downs on the business side of the organization. I’m here to tell you that has come to an end. This is not an investment for us. This is a commitment to a city, to an organization. The Penguins are going to be in Pittsburgh, and they’re always going to be in Pittsburgh as long as the Hoffmanns are a part of it. And the Hoffmanns plan to be a part of it for generations to come.”
• Mario Lemieux had a very icy relationship with Fenway Sports Group, the previous owners of the Penguins.
The Hoffmann family is well aware of that and wishes to have Lemieux involved in the organization as soon as possible. Hoffmann has already spent time with the 60-year-old living legend. Lemieux owned the Penguins from 1999 to 2021 after becoming one of the greatest players in history during his time on the ice in Pittsburgh (1984-97, 2000-2006).
“He’s been as good as advertised,” Hoffmann said of his time with Lemieux. “Just a great, great guy. I’m really hopeful that he will be a part of this in whatever way, shape or form makes sense for him. We would love for him to be a part of this. We know what he means to hockey, we know what he means to the Penguins, to the city, and to the NHL. Everyone will embrace him with open arms.”
• It’s been rumored for quite some time, and it seems inevitable that the Penguins’ ECHL affiliate is heading south. Wheeling has been the ECHL affiliate for the Penguins since 1998. However, the Hoffmann family owns the Florida Everblades of the ECHL and will continue to.
David Hoffmann, the family patriarch, chimed in when it was asked if the ECHL affiliate would change.
“One hundred percent,” he said. “They would run me out of Naples if we didn’t. There’s already people (there) wearing Penguins jerseys.”
• As reported by The Athletic earlier this week, the Penguins will continue to have their games broadcast on SportsNet Pittsburgh — which is operated by NESN and owned by Fenway Sports Group — for the 2026-27 season.
At that point, the contract expires.
Geoff Hoffmann said it remains unclear what will happen to the TV rights at that stage.
• Kyle Dubas and Dan Muse were on hand for the news conference, and they received quite a vote of confidence.
“We have the best GM and the best coach in the league,” Hoffmann said. “That work is done.”
The appeal of working with Dubas was something that drew the new owners to Pittsburgh.
“Kyle, we think, is a particularly talented executive,” Hoffmann said. “It was one of the things that attracted us to making this investment. We fully support him and his vision. We are prepared to give him the resources he needs to be as successful as we can possibly be as an organization.”
• Hoffmann was asked about how he plans on conducting himself as an owner. The Penguins have a history of low-profile owners. Even Lemieux, likely the most popular and beloved athlete in Pittsburgh history, was very much behind the scenes during his ownership days.
“I don’t think we’ll be quite like Jerry Jones, from a number of perspectives,” Hoffmann said with a laugh. “But we will absolutely be present. We aren’t going to micromanage the team. We’re going to bring in a president of business operations.”
FSG, while relatively well-liked by numerous Penguins employees, was based in Boston, and the Boston Red Sox and Liverpool FC are its crown jewels.
The Penguins are the crown jewel for their new owners.
“We bought a house,” said David Hoffmann, talking about a new residence in the Squirrel Hill neighborhood of Pittsburgh. “It’s usually a good sign that you’re going to be here.”
Said Geoff Hoffmann: “We’re excited to be fixtures in the community here.”
• David Hoffmann was particularly entertaining and direct on the few occasions he spoke.
His son Geoff answered a question about the ongoing issues with development around PPG Paints Arena. The issues between the Penguins, the Hill District and the city of Pittsburgh have been going on long before PPG Paints Arena existed.
“Many stakeholders need to be heard and taken care of,” Geoff Hoffmann said. “We will have that discussion when the time is right.”
Then, his father took the microphone.
“Let me ask you something,” David Hoffmann said. “One of the things I notice coming here, the hotel situation doesn’t seem to fit with the demand or all of the great assets we have here. Greg (Geoff’s brother) runs our real estate portfolio and runs it very well. We’ve had lengthy discussions about it. Why isn’t there a better choice for more hotels here? A hotel close here, that’s maintained well, looks good, is an attraction where everyone wants to go? It just doesn’t seem with all you have got on — four sports teams, three colleges, a vibrant community — that you have enough hotels. We’re very interested in building a hotel here.”
• Expect some renovations in the near future for the 16-year-old PPG Paints Arena.
“We think with some improvements and modernizations, we can make it an elite fan experience,” Geoff Hoffmann said.
Hoffmann said he’s hoping that work will begin within 12-18 months, when, “we’ll start swinging hammers.”
David Hoffmann noted that the Penguins’ building was a strong selling point.
“This arena is a good deal for an owner,” he said. “It’s more than a fair deal. It would (cost) $1.2 to $1.4 billion (to build) today.”
It was built for around $320 million and opened in 2010.
“The least we can do is support it and make it as nice as it can be,” Hoffmann said.
• While the Hoffmann family very much intends to let Dubas do his thing, the word “winning” came up many times during the news conference.
“You (the fans) will win in Pittsburgh,” Hoffmann said. “We are committed to it.”
• Anyone can say the right thing at news conferences, so we will see how things unfold with the new ownership group.
I can tell you this much: I’ve spoken with a number of people in the organization who have gotten to know the Hoffmann family in recent days. The consensus is 100 percent positive.
As billionaires go, they came across as remarkably down-to-earth Thursday. Those in the Penguins organization who have been exposed to them are very impressed and believe the new ownership group is utterly sincere in its desire to win championships and impact Pittsburgh positively.
