Lemieux is a five-time Stanley Cup champion with the Penguins, winning twice as a player (1991, 1992) and three times as an owner (2009, 2016, 2017). He has the most goals (690) in Pittsburgh’s history and is second in points (1,723) and assists (1,033), behind current captain Sidney Crosby (1,761 points; 654 goals, 1,107 assists).
The Penguins faced possible relocation after filing for bankruptcy in 1998. Lemieux was owed more than $32.5 million in deferred salary, which he converted into equity to secure controlling interest of the franchise. He and Burkle assumed control on Sept. 3, 1999.
In 2007, Lemieux again helped the Penguins stave off relocation by playing a role in an agreement to build a new arena, currently PPG Paints Arena. The team signed a 30-year lease in September 2007, ensuring it would remain in Pittsburgh through 2040.
“We know what he means to hockey,” Hoffmann said. “We know what he means to the Penguins, we know what he means to the city and what he means to the League, the NHL. I think everybody would embrace him with open arms.”
The Penguins were sold to the Hoffmann family for approximately $1.75 billion, NHL Commissioner Gary Bettman said on Tuesday, five years after being acquired by FSG for $900 million.
“It is a storied franchise in a lot of different ways," Hoffmann said. "There’s certainly been some ups and downs, I think, on the business side of the organization. I’m here to tell you that has come to an end. We are long-term thinkers. This is not an investment for us, like, as you think about a financial investment. This is a commitment to a city. It’s a commitment to an organization.
“The Penguins are going to be in Pittsburgh, and are always going to be in Pittsburgh, as long as the Hoffmanns are part of it. And the Hoffmann’s plan to be a part of this for generations to come.”
