What Happened to Terrence (Terry) and Kim Pegula?

Terry Pegula, born in 1951, established his wealth through the natural gas industry. In 1983, he founded East Resources, an oil and gas exploration and production company, which he grew significantly over nearly three decades. The major turning point in his financial success came in 2010 when he sold the bulk of East Resources' assets to Royal Dutch Shell for $4.7 billion. This substantial capital allowed the Pegulas to pivot into professional sports ownership, fulfilling a long-held ambition.

Following the sale of East Resources, Terry Pegula purchased the Buffalo Sabres of the National Hockey League in 2011 for $189 million. Three years later, in 2014, he and Kim Pegula acquired the Buffalo Bills of the National Football League for $1.4 billion in an all-cash deal, famously outbidding groups that included Donald Trump and Jon Bon Jovi, ensuring the team remained in Buffalo. Kim Pegula, who was born in Seoul, South Korea, and adopted at age five, played a highly active role in their sports empire, serving as President and CEO of Pegula Sports and Entertainment (PSE), the holding company for their various sports and entertainment assets, from 2011 until its dissolution.

The family faced a significant personal challenge in June 2022 when Kim Pegula suffered a cardiac arrest at home, leading to a severe brain injury due to prolonged lack of oxygen. Her daughter, tennis star Jessica Pegula, later revealed in February 2023 that Kim was dealing with significant expressive aphasia and memory issues, and that her sister, Kelly, had performed life-saving CPR. In March 2023, Kim Pegula was legally declared incapacitated. This health crisis led to a restructuring of their business operations. In August 2023, Pegula Sports and Entertainment was dissolved, with the Bills and Sabres subsequently operating as separate entities. Terry Pegula assumed the presidential roles for both franchises.

In December 2024, the Pegulas sold a non-controlling, minority interest (approximately 20-25%) in the Buffalo Bills to a coalition of private equity investors and former athletes, including Vince Carter, Tracy McGrady, and Jozy Altidore. This move was partly influenced by the rising construction costs of the new $2.2 billion Highmark Stadium for the Bills, which is set to open in 2026. Kim Pegula's stake in the team was transferred to a trust managed by Terry and his business partner, with a portion also going to her stepdaughter Laura Pegula.

As of September 2026, Terry Pegula continues to be the driving force behind the Pegula sports empire. His net worth is estimated by Forbes to be around $9.3 billion to $11.8 billion. Kim Pegula remains in recovery, with her public appearances being rare but significant, such as her emotional return to the new Highmark Stadium in August 2026, highlighting her ongoing progress and connection to the team she helped build. The Buffalo Sabres also hosted the 2026 NHL Draft in January 2026, further cementing the Pegulas' impact on the Buffalo sports landscape.