Terrence Michael Pegula is an American businessman worth a billion dollars and a petroleum engineer. He was born on March 27, 1951.
He has interests in natural gas development, real estate, entertainment, and professional sports, having accumulated his fortune from investments in fracking.
Additionally, he has holdings in real estate. Pegula Sports and Entertainment, which owns the Buffalo Sabres of the National Hockey League and the Buffalo Bills of the National Football League, is owned by him.
Following the passing of the team’s founding owner, Ralph Wilson, the Buffalo Bills were made available for purchase. Pegula competed against those who would go on to become the U.S.
Donald Trump, the President, and Jon Bon Jovi, the Musician, Will Be on the Team. It was stated that the Pegula family submitted an offer for a total of $1.4 billion dollars.
They were given unanimous approval by the NFL’s finance committee, and the deal was finalized on October 10 of that same year.
On March 28, 2022, it was announced that a deal had been reached between New York State, Erie County, and the Pegulas for a new stadium for the Bills that would have 62,000 seats and cost $1.4 billion dollars.
Because the arrangement was made public four days before the New York state legislature was scheduled to vote on the state budget,
it was difficult for members to investigate the pact in detail. Some people who disagreed with the arrangement referred to it as “corporate welfare.”