Mario Lemieux sells remaining stake in Pittsburgh Penguins

Mario Lemieux has sold his remaining ownership stake in the Pittsburgh Penguins, ending his formal connection to the franchise as an owner for the first time since 1999. According to reports, Lemieux and longtime business partner Ron Burkle sold their shares following the sale of the team to the Hoffmann Family of Companies for $1.75 billion earlier this year.

Lemieux’s history with the Penguins is deeply intertwined with the team's survival. In 1999, while the franchise was facing bankruptcy, Lemieux converted unpaid salary owed to him into ownership shares to save the organization. Under his leadership as an owner, the Penguins secured three Stanley Cup championships.

While Lemieux no longer holds an official ownership role, Penguins governor Geoff Hoffmann expressed a desire to keep the legendary figure involved with the organization in some capacity. Lemieux has also indicated an interest in maintaining a presence around the team despite the transition.