Potential Sabres Buyer Has Ties To WNY

6:39 PM, Nov 30, 2010   |    comments
Terrence Pegula
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BUFFALO, NY - Speculation of a possible sale of the Sabres has the hockey talk flying at fever-pitch today across Western New York.

Early Tuesday, The Hockey News reported that multi-billionaire petroleum mogul Terry Pegula has signed a letter of intent to purchase the Sabres for about $150 million.

The big question among Sabre fans has been, "who is Terry Pegula?" The answer should be pleasing to many fans. Pegula is a self-made billionaire, who took a $7,500 loan from friends and family and started East Resources, building it into one of the largest privately-owned companies in the country.

He is listed at number 110 on the Forbes list of wealthiest Americans, with a net worth of $3 billion.

While Pegula was born in Carbondale, Pennsylvania (near Scranton),  he is no stranger to Western New York. His wife Kim grew up in Fairport and attended Houghton College. The couple even lived in Orchard Park and Olean for a short time.

He is also no stranger to hockey, a self-proclaimed "rink rat", and also coached his son while they lived here in Western New York. This past September, he combined his passion for hockey and his alma mater, giving Penn State its largest private donation ever.

Terry and Kim Pegula donated $88 million to build and arena and division 1 hockey program for Penn State.

Calls to Pegula's office and homes in Pennsylvania and Boca Raton, Florida went unreturned. 

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