BUFFALO, N.Y. - Terry Pegula officially took over as the new owner of the Buffalo Sabres today after completing his purchase of the team from Rochester billionaire Tom Golisano.
His goals as the new owner of the Sabres were made clear right from the start of his press conference. "Starting today, our reason for existence is to win the Stanley Cup. And yes, I've said Cups in the past," said Pegula.
Pegula stated that the Sabres will retain General Manager Darcy Regier and Head Coach Lindy Ruff.
One topic of interest to hockey fans in Rochester is the relationship between the Amerks and Sabres. The two teams split in 2008 after Sabres owner Tom Golisano and then-Amerks owner Steve Donner could not agree on several issues. Pegula said that he has not considered renewing the relationship yet, but that he was surprised at first when the two teams split back in 2008. He later added that he was looking forward to making the trip to Portland to see the state of Buffalo's current AHL affiliate.
Pegula, a native of Carbondale, PA was a Sabres season ticket holder from 1980-1998 and spent time living in both Olean and Orchard Park, NY. Pegula founded East Resources, an independent exploration and development company in 1983, and the company quickly flourished. In July of 2010, Pegula sold East Resources to Royal Dutch Shell for $4.7 billion.
Pegula's net worth as provided by Forbes Magazine are in the area of $3 billion, and he is currently ranked as the 110th wealthiest person in the United States, on par with film director Steven Spielberg.
His ties to western NY do not end there. In 1993, Pegula married his wife Kim, a native of Fairport.
