Quick Facts: Buffalo Sabres
| Owner | Terry Pegula (Principal Owner; Pegula Sports & Entertainment) |
| CEO / Leader | Terry Pegula (Principal Owner); Jason Karmanos (President, Sabres) |
| Founded | 1970, Buffalo, New York |
| Headquarters | Buffalo, New York, USA |
| Ownership Type | Private |
| Stock Ticker | N/A |
| Publicly Traded | No |
Who Owns the Buffalo Sabres?
The Buffalo Sabres are owned by Terry Pegula, the billionaire natural gas entrepreneur who purchased the franchise in February 2011 for $189 million from the estate of previous owner Tom Golisano. Pegula’s path to sports ownership is one of the more remarkable in American business — he built East Resources, a natural gas exploration and production company in the Appalachian Basin, and sold it to Royal Dutch Shell in 2010 for approximately $4.7 billion. The windfall from that sale gave him the capital to enter professional sports ownership and become one of Buffalo’s most significant economic figures.
Terry and Kim Pegula own both the Buffalo Sabres (NHL) and the Buffalo Bills (NFL), having acquired the Bills in 2014 for $1.4 billion — at the time the most expensive sports franchise purchase in history. Their company, Pegula Sports and Entertainment (PSE), manages both franchises along with other sports and entertainment ventures. Kim Pegula served as President of PSE and was an active presence in both organizations until June 2022, when she suffered a cardiac arrest that resulted in significant health challenges. Her recovery has been ongoing, and Terry Pegula has managed both franchises with adjusted leadership teams in her absence.
Both the Sabres and Bills are privately held with no publicly traded shares. The Pegula family’s combined investment in Buffalo sports has made them the most significant sports owners in the city’s history, transforming what might have seemed like aging franchises in a challenged market into sustained businesses with community impact far beyond the playing fields.
About Terry Pegula and East Resources
Terry Pegula was born in Carbondale, Pennsylvania, and graduated from Penn State University with a petroleum engineering degree. He founded East Resources in 1983, focusing on natural gas production in the Appalachian Basin, particularly in Pennsylvania and West Virginia. For over two decades, East Resources remained a privately held company that Pegula built methodically while avoiding the high debt loads common in the energy sector. When the Marcellus Shale boom made natural gas extraction in the region enormously valuable, Shell’s $4.7 billion acquisition of East Resources in 2010 transformed Pegula into a multi-billionaire overnight.
Pegula’s acquisition of the Sabres in 2011 was widely welcomed in Buffalo, where the team had been under uncertain ownership. His purchase of the Bills in 2014 was even more significant — the Bills had been without local ownership for years, and there were genuine concerns the franchise might relocate. Pegula’s $1.4 billion bid kept the Bills in Buffalo and signaled a long-term commitment to the Western New York community.
Key Ownership Highlights
- Terry Pegula purchased the Buffalo Sabres in February 2011 for $189 million from the estate of former owner Tom Golisano. He built his wealth by selling East Resources, a natural gas company, to Royal Dutch Shell for approximately $4.7 billion in 2010.
- Terry and Kim Pegula also own the Buffalo Bills (NFL), which they purchased in 2014 for $1.4 billion — at the time the most expensive NFL franchise sale in history. The dual ownership of the Sabres and Bills makes the Pegulas the most powerful sports owners in Western New York.
- Kim Pegula served as President of Pegula Sports and Entertainment and was deeply involved in both franchises until June 2022, when she suffered a cardiac arrest. Her health challenges prompted significant adjustments to PSE’s management structure, with Terry Pegula taking on more operational oversight.
- The Buffalo Sabres have never won a Stanley Cup championship, making them one of the NHL’s most hopeful fanbases still awaiting their first title. The franchise has come close, reaching the Stanley Cup Finals in 1975 and 1999, losing to the Philadelphia Flyers and Dallas Stars respectively in heartbreaking fashion.
- KeyBank Center in downtown Buffalo has been the Sabres’ home arena since it opened in 1996. The arena, which seats approximately 19,000 for hockey, has also hosted concerts and other events as part of Buffalo’s downtown entertainment ecosystem.
Frequently Asked Questions
Who owns the Buffalo Sabres?
Terry Pegula is the principal owner of the Buffalo Sabres. He purchased the franchise in February 2011 for $189 million. His wealth came from the $4.7 billion sale of East Resources, his natural gas company, to Royal Dutch Shell in 2010.
Are the Buffalo Sabres publicly traded?
No. The Buffalo Sabres are privately owned by Terry Pegula and the Pegula family through Pegula Sports and Entertainment. There are no publicly traded shares of the franchise.
Does Terry Pegula own the Buffalo Bills?
Yes. Terry and Kim Pegula purchased the Buffalo Bills in 2014 for $1.4 billion, making them the owners of both major professional sports franchises in Buffalo. The Bills purchase was at the time the most expensive NFL franchise sale in history and kept the team from potentially relocating.
Have the Sabres ever won the Stanley Cup?
No. The Buffalo Sabres have never won the Stanley Cup. The franchise has reached the Finals twice — in 1975 (losing to the Philadelphia Flyers) and in 1999 (losing to the Dallas Stars in a controversial series that ended with the disputed “No Goal” that remains one of hockey’s most debated calls).
