The Pittsburgh Penguins are an American professional ice hockey team based in Pittsburgh, Pennsylvania. They play in the Atlantic Division of the Eastern Conference in the National Hockey League (NHL). The franchise was established as one of six new franchises of the 1967 NHL expansion. Since their foundation, the Penguins have played their home games at the Mellon Arena, which is scheduled to be replaced by the Consol Energy Center in 2010. The franchise is co-owned by Ronald Burkle and Mario Lemieux—the only player/owner in the NHL's modern era. According to Forbes, the Penguins were the 18th most valuable NHL franchise, at $195 million, in 2008.