Terrence Pegula
| Terrence M. "Terry" Pegula | |
|---|---|
Pegula in 2015
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|
| Born |
March 27, 1951 Carbondale, Pennsylvania, United States |
| Nationality | American |
| Alma mater | Pennsylvania State University (BS) |
| Occupation | Businessman Professional Sports Team Owner Real Estate Developer |
| Known for | Owner, Buffalo Bills (NFL) Owner, Buffalo Sabres (NHL) Owner, Rochester Americans (AHL) Owner, Buffalo Bandits (NLL) Natural gas tycoon |
| Net worth |
 US$4 billion(September 2015) |
| Spouse(s) | Kim Kerr (m. 1993) |
| Children | 5 (including Jessica Pegula) |
Terrence M. "Terry" Pegula (born March 27, 1951) is an American multi-billionaire who holds business interests in natural gas development, real estate, entertainment and professional sports, including full ownership of the Buffalo Sabres of the National Hockey League (NHL) and, along with his wife Kim Pegula, the Buffalo Bills of the National Football League (NFL).
On February 18, 2011, Pegula purchased Hockey Western New York LLC (the holding company that owns the Buffalo Sabres and the Buffalo Bandits of the National Lacrosse League) from previous owners Tom Golisano, Larry Quinn, and Dan DiPofi for $189 million. Pegula's purchase made an immediate positive impact, with players, fans and alumni invigorated by his investment in the team, the then First Niagara Center and the building of HarborCenter across the street. Pegula was quoted as saying, "Starting today, the Buffalo Sabres' reason for existence, will be to win a Stanley Cup." The Sabres have declined tremendously since Pegula has become owner, going from contending for the playoffs to being one of the worst teams in the NHL as part of an overall strategy to rebuild the club.
Included in the Sabres purchase was their National Lacrosse League counterpart, the Buffalo Bandits which actually have won multiple NLL championships.
In May 2011, Pegula began negotiations on behalf of the Sabres to re-purchase the Rochester Americans, which had served as the Sabres' American Hockey League affiliate from 1979 to 2008 (and had been owned by the Sabres from 1979 to 1996); the deal was completed in late June 2011. As part of the deal the Americans had to be split off from its NLL counterpart the Rochester Knighthawks since Pegula owned the Bandits. Along with the purchase of the Americans came upgrades to the team's arena, the Blue Cross Arena.
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