[Lysowski] The Sabres officially named owner Terry Pegula as team president and, according to a news release, will be “separating resources” between the Bills and Sabres to allow “each respective organization to focus singularly on their efforts.”
The Sabres officially named owner Terry Pegula as team president and, according to a news release, will be "separating resources" between the Bills and Sabres to allow "each respective organization to focus singularly on their efforts."
— Lance Lysowski (@LLysowski) August 28, 2023
by OpabiniaGlasses
8 Comments
This is the end of PSE (Peugla Sports and Entertainment), and the Bills and Sabres (on the business side) are now essentially independent of each other.
>”We are thankful for the work and effort so many individuals have put into PSE over the years, but feel it is the right time for them to return home to separate organizations,” Sabres owner and president Terry Pegula said. “We feel that now is the right time to dissolve PSE and allow everyone to focus solely on their respective organization. It is a great time to be a Buffalo sports fan and we have a tremendous amount of confidence that this restructuring will allow our businesses to continue to elevate with our teams.”
https://www.nhl.com/sabres/news/terry-pegula-sabres-president-organizational-restructure/c-345685802
Interesting, I wonder if sales are being explored?
yeah he’s selling the team
I think this subtly confirms a sale is looming within the next few years.
Two Buffalo now?
Uncoupling the two could allow for Pegula to sell a % of the Sabres. Michael Andlauer who just purchased Ottawa was previously a 10% owner of the Canadians. Maybe there is someone with money looking to anchor to the city? One name that stands out is Jeffrey Gundlach, who just poured millions in the AKG Art Museum and previously tried to purchase the Bills but bowed out to Pegula when it was clear he didn’t have the same level of money. If you’re worth a couple billion, spending $75M to get all of the benefits of being an owner sounds like a pretty sweet deal. But this move seems highly doubtful.
More likely, as others have projected, this is a money move to setup the Sabres better for arena upgrades or some other magic money people do with a business of this scale.
A lot of people in this thread don’t know how to business.
Obviously Terry could always decide to sell part or all of the Sabres, but I don’t think that is what this is about.
It made sense at the time to have an umbrella organization to handle both teams, but now it’s a completely different reality. The Bills are a premier team in the NFL with a very expensive new stadium on the horizon. The people overseeing the Bills need to focus on the Bills. The Sabres are about to ask for a bunch of money (relatively) to renovate Keybank Center, which will also be a large undertaking (again, relatively). Between that and the team finally getting good, they need their people to focus on finally making a profit.
On top of all that, the Pegula’s have been at this for awhile now and have a better grasp on what’s going on. It’s good to see that the two organizations will get the focus they need from the people running the respective ships.