In June 1999, a U.S. Bankruptcy Court Judge granted former player Mario Lemieux ownership of the Penguins franchise, who were in danger of either relocating to Portland, Oregon, or folding.
On April 7, 2000, Jaromir Jagr scored just 13 seconds into the overtime period to give the Penguins a 2–1 road win over the Buffalo Sabres.
The Penguins have been involved in the following transactions during the 1999–2000 season:[24] Kevin Hatcher Peter Popovic Kip Miller 2000 9th round pick Pavel Skrbek Bob Boughner German Titov Josef Beranek 2000 5th round pick Dan Trebil Brad Werenka Rene CorbetTyler Moss Tom Barrasso Janne LaukkanenRon Tugnutt
WBRE, the NBC station in Wilkes-Barre/Scranton, received a James H. Ellery Memorial Award for outstanding television coverage.
The Wheeling Nailers of the East Coast Hockey League finished the season in fifth place in the Northwest Division with a record of 25-40-5.