Fenway Agrees to Sell Pittsburgh Penguins to Hoffmann Family (1)

Fenway Sports Group has agreed in principle to sell the Pittsburgh Penguins hockey team to Chicago-based Hoffmann Family in a deal that would value the franchise between $1.7 billion and $1.8 billion, according to a person familiar with the talks.

The sale will need to be approved by the National Hockey League’s Board of Governors, which includes the league’s other 31 owners. The next meeting isn’t until June, but the league could call for a vote before then.

The Hoffmann Family of Cos. and its founder, David Hoffmann, didn’t respond to request for comment. Longtime NHL reporter Frank Seravalli ...