Mario Lemieux is attempting to repurchase the Pittsburgh Penguins, a franchise he once owned, but his bid is reportedly around $1 billion, which falls significantly below the team's estimated value.

The Penguins were sold to Fenway Sports Group (FSG) in 2021 for just under $1 billion, and recent sales in the NHL, such as the Tampa Bay Lightning for $1.8 billion, may set a new price precedent for the franchise.

While Lemieux aims for complete ownership, FSG is currently seeking partial shareholders, which complicates the negotiation process.

FSG has shown no urgency to finalize a sale, suggesting that the negotiation process may take considerable time, leaving Penguins fans hopeful yet anxious.

Despite the ongoing discussions, the Penguins have struggled under FSG's ownership, missing the playoffs for three consecutive seasons and recording their lowest point total last year.

The team's performance has been disappointing, with their 80 points last season marking the lowest total since the 2005-06 season, yet FSG maintains a high asking price for the franchise.

Fans are invigorated by the possibility of Lemieux's return, given his legendary status and history with the team, having led them to multiple Stanley Cup victories.

Lemieux's group, which includes Ron Burkle and David Morehouse, is actively exploring financial options to regain ownership of the team.

However, a significant obstacle remains as reports indicate that FSG would not consider selling at the current bid level from Lemieux's group.

At 59 years old, Lemieux is celebrated for his contributions to the Penguins, including leading them to two Stanley Cup championships in the early 1990s and being part of the ownership during their recent successes.

Sportsnet insider Elliotte Friedman has confirmed that the bid from Lemieux's group does not meet FSG's asking price, complicating the potential sale.