In what come as a surprising move for Buffalo sports fans, Bills and Sabres owner Terry Pegula announced the dissolution of Pegula Sports and Entertainment, the parent company for both franchises.
Pegula has also appointed himself president of the Sabres, a title he also holds with the Bills.
Pegula, a lifelong fan of the Sabres, bought the franchise in 2011. In 2014 he bought the Bills for $1.4 billion.
This move allows both teams to operate as singular entities and is part of a larger organizational restructuring, said Associated Press Sportswriter John Wawrow.
“It’s an extension of what really began in July when (former Bills Vice President and C.O.O.) Ron Raccuia was let go and John Roth took over as CEO.,” he said.
Wawrow says the leadership vacuum, which also includes Pegula’s wife Kim who continues to recuperate from a cardiac incident last summer, has caused Pegula to take on the role president for the Sabres.
“He likes to be hands-on,” Wawrow said. “He doesn’t like people reporting to him or him having to go through go-betweens.”
Kevyn Adams will continue as general manager of the Sabres, who have not made the playoffs since 2011.
The Sabres are in the planning stages of upgrading Key Bank Center while the Bills are four months into the building of a new stadium in Orchard Park.
With moves of this magnitude it wouldn’t be off-base for a fan of either team to question whether one, or possibly both teams could be up for sale in the near future. Wawrow does not buy it.
“There’s always this buzz of the Sabres being up for sale and I just don’t see it in Terry Pegula’s lifetime,” he said. “This is his vision. This is his dream to be the Sabres owner. This is his passion. I know he loves the Bills as well but the Sabres are his true passion. This is the team he grew up listening to and enamored with the French Connection. I understand why all these rumors and speculations start coming up but Terry Pegula is not selling the Buffalo Sabres, period.”
According to sports business website Sportico, the Bills are listed as the 29th most valuable team in the National Football League with a valuation of $4.13 billion.
