Buffalo Bills and Buffalo Sabres co-owner Terry Pegula announced Monday afternoon that Pegula Sports & Entertainment (PSE) is being dissolved. ESPN Bills beat reporter Alaina Getzenberg shared the bombshell news, which contained a statement from Terry Pegula via the Sabres.
“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. 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.”
Statement from Terry Pegula via the Sabres includes that PSE is being dissolved: "We feel that now is the right time to dissolve PSE and allow everyone to focus solely on their respective organization." https://t.co/qoJmxX56qq— Alaina Getzenberg (@agetzenberg) August 28, 2023
In announcing the split, Terry Pegula also named himself President of the Sabres, a position which he also holds now within the Bills’ organization — following Kim Pegula’s medical emergency and continued recovery.
Kim and Terry Pegula purchased the Bills in 2014, three years after becoming co-owners of the Buffalo Sabres in the NHL.
“Pegula will work closely with Chief Operating Officer John Roth on the business side of the Sabres, and general manager Kevyn Adams will continue to run hockey operations. The latest restructuring comes one month after Roth was named executive vice president and chief operating officer of the Bills.”
A source told The Buffalo News that “15 employees of PSE were laid off Monday morning.” While a spokesperson for the Bills told The Buffalo News that the latest moves will not impact business operations for the NFL franchise.
Stay locked in with Buffalo Rumblings for more information on today’s PSE news as it becomes available.