Revisiting one burning question about Terry — why did he buy the Sabres?

[X. Benedict]

I feel like it's my team that Terry bought. I've always been curious about why he bought my team. Why the Knoxes brought the Sabres to Buffalo (make Buffalo big league, wealthy guys giving something back to the city), why Rigas bought the team (business interests), why Golisano bought the team (maybe to save it, more likely to be a placeholder owner until he could flip it and make some money) are all important. Excuse me for my interest. It's being discussed again because there's news, pretty big news as far as I'm concerned, a statement that Terry's principal motivation was to have a platform to change the city. It's interesting stuff. Don't post in threads that bore you.

It doesn't bore me. I just don't get it really. More than once you seem to be offended by the idea that he has more than one interest.

(I think you insisted that the Harbor Center thread be labeled OT) So I'm puzzled by this purity of purpose idea that you keep on about, and I ask you, why can't they be all? And why is it burning :)? 

[qwksndmonster]

Tanking to get Eichel clearly was a stupid move. The kid obviously sucks. Let's bring back overrated losers like Miller and Stafford and make more heroic runs to ninth

You. Stop it.

[Sabre Dance]

It is my considered opinion that there is no completely selfless act.  Pegula's real reasons for purchasing the Sabres and Bills and revamping the foot of Main Street may never truly be known.  His motives may be no more nefarious than just wanting to do a nice thing for a city that had been down on it's luck for years. It may be that he is doing all this to cleanse his conscience from all of the horrible side effects his fracking business may have caused. 

All I know is that his stated intention up front when buying the Sabres was to bring a Stanley Cup to Buffalo. Admittedly, there is a learning curve, but so far his efforts have not borne out...yet.  It's kind of like a drunk walking to his car - he'll get there eventually, but not in a straight line.  So far, there's been a whole lot of lurching going on. 

If Pegula had to pick a city to bestow his "blessings" on, I am glad it was Buffalo and not Columbus (or Altoona).  Time will tell what his true purpose was/is. I just wish he had started his "rebuild" of the Sabres a couple years sooner; we might be a contender by now.... :thumbsup:

[X. Benedict]

I think it is only fair to judge the man by his actions. (his words are very likely to come out all jumbled) 

[qwksndmonster]

Sabre Dance, I never considered the cleansing conscience angle. Very interesting.

 

He still has a hand (maybe 2?) in the oil business. Do any of his remaining holdings have anything to do with fracking?

[That Aud Smell]

It's my opinion that it was well established. It's not a big deal. It's just common sense. But anything that takes a little shine off of Terry has to be met with indignation. I'm a huge Bills fan by the way... whoa, wait a second... Pegula owns the Bills? When did that happen? Is Ralph OK? Sorry, been a little busy with stuff.

Who's indignant. I'm debating you.

 

The snark about being a big fan misses the mark.

 

But I will grant you: It's a bit curious that he claims not to have been contemporaneously aware of the development.

[SwampD]

I think it is only fair to judge the man by his actions. (his words are very likely to come out all jumbled) 

nice

[K-9]

I feel like it's my team that Terry bought. I've always been curious about why he bought my team

(in voice of jeff spicoli)

 

Isn't it OUR team, Mr. Hand?

 

As his presser after the BILLS purchase suggests, no owner is more aware of the concept of owning "our" team than the Pegulas. He seems to view it as a shared community asset.

[X. Benedict]

(in voice of jeff spicoli)

 

Isn't it OUR team, Mr. Hand?

 

As his presser after the BILLS purchase suggests, no owner is more aware of the concept of owning "our" team than the Pegulas. He seems to view it as a shared community asset.

Just before Mr. Hand takes away - our Pizza. :) 

[PASabreFan]

You. Stop it.

You are angry when you're beautiful, and doing your cooldown skate without a shirt.

[musichunch]

While others might imply that he bought the team as a way to deflect attention from his involvement in a pedophile's serial rape of young boys spanning decades.

 

Is this coming from my post? I never said he was involved. It's just my belief that a guy who gave $102M to Penn State might have had a little birdie in his ear warning him of what was to come. 

[...]

Do you use the "advanced" one or just the main one?

Both.

[Doohickie]

You are angry when you're beautiful, and doing your cooldown skate without a shirt.

 

Wow.  Just wow.

 

 

 

 

That's poetry.

[3putt]

Sabre Dance, I never considered the cleansing conscience angle. Very interesting.

 

He still has a hand (maybe 2?) in the oil business. Do any of his remaining holdings have anything to do with fracking?

A large portion of the Pegula fortune came from East Resources, the company he sold.  He and Kim own a considerable portfolio of leaseholdings and mineral rights in shale gas/oil areas throughout North America but largely concentrated in and adjacent to the Marcellus Shale formation. Similar assets were sold to generate the proceeds for the purchase of the Bills.  The vast majority of the value of these holdings derives from the energy potential they have.  So indirectly yes.

[LGR4GM]

Is this coming from my post? I never said he was involved. It's just my belief that a guy who gave $102M to Penn State might have had a little birdie in his ear warning him of what was to come. 

explain what you mean

[woods-racer]

I wish it were tongue and cheek, but what else could musichunch have been implying in his post? Not to mention the tomes written by GoDD suggesting as much in the past.

 

You had said *others* initially, GoDD doesn't count as others, he is *the other one* if you chose not to use his name. :ph34r:

 

Is this coming from my post? I never said he was involved. It's just my belief that a guy who gave $102M to Penn State might have had a little birdie in his ear warning him of what was to come. 

 

A large part of me understands the distrust of a large institution run by a state that willing harbored a pedophile for decades. Then all of a sudden a payment of an extraordinary amount of money is paid to that institution by a person may make one think that person could be involved.

 

But no, the two are completely separate.

 

I will guarantee you a good portion of Pegulas' generosity was born for tax purposes. The timing, and length of payout to Penn State after he just sold East Resources has everything to do with it and not a birdie. The fact that the scandal was unraveling  in the mist of one of the best and most generous offers the school has ever had was not planned. Well maybe it was, we have all witnessed the PR department of the Sabres at work ( weak joke I know, but hey...)

 

If you want the latest crazy shiny hat theory google the Pennsylvania Attorney General. I have been told it's the beginning of the Sandusky political cleanse. Not much bad happened to a lot of bad people in positions of authority that had the power ( state appointed) to get Sandusky many years before. 

 

And if it's not, it's just karma restoring it's self.

[That Aud Smell]

I never said he was involved. It's just my belief that a guy who gave $102M to Penn State might have had a little birdie in his ear warning him of what was to come. 

 

explain what you mean

 

Good to have you back, Drane.

[musichunch]

A large part of me understands the distrust of a large institution run by a state that willing harbored a pedophile for decades. Then all of a sudden a payment of an extraordinary amount of money is paid to that institution by a person may make one think that person could be involved.

 

But no, the two are completely separate.

 

I will guarantee you a good portion of Pegulas' generosity was born for tax purposes. The timing, and length of payout to Penn State after he just sold East Resources has everything to do with it and not a birdie. The fact that the scandal was unraveling  in the mist of one of the best and most generous offers the school has ever had was not planned. Well maybe it was, we have all witnessed the PR department of the Sabres at work ( weak joke I know, but hey...)

 

If you want the latest crazy shiny hat theory google the Pennsylvania Attorney General. I have been told it's the beginning of the Sandusky political cleanse. Not much bad happened to a lot of bad people in positions of authority that had the power ( state appointed) to get Sandusky many years before. 

 

And if it's not, it's just karma restoring it's self.

 

Belief #1 - Pegula has been a secret Sabres fan his whole life, made his billions in oil, and when the Sabres came on the market he swooped in and got his toy. Now Pegula and his plucky wife are trying to turn the city of Buffalo around!

 

Belief #2 - Pegula has been a casual fan most of his life. He made his billions in a industry that requires millions of dollars of lobbying just to keep regulations at bay, and is at risk of a bombshell environmental health disaster report to be unleashed any given year. His trusted associates advise him to diversify his assets. He makes a large donation to Penn State and then hears word that a massive child sex scandal is about to break out. It would be tough to romance politicians when you're even five degrees from a pedophilia case. Someone alerts him that the nearby Sabres have been secretly shopped around since 2008 or 2009 and they see an opportunity to gain the good graces of the state and local community, while getting a bargain. Pegula buys the Sabres and is seen as a savior. He then purchases the Americans, Bills, and starts the Harbor Center project. He is primed to expand and monetize his One Buffalo brand with a terrific PR reputation.

 

Guys, I'm not Drane obviously, I don't think I'm funny enough to pretend to be. He alludes to Pegula and Benson somehow being involved and trying to cover up the scandal. Maybe there's some truth to that, who knows, but I'm not going that far. 

 

However, in my eyes, I think Pegula saw Buffalo and the Sabres as a lifeboat, rather than a dream team. I know people don't want to hear it and want their Santa Claus, but to my dying day I'll never believe that a billionaire fracker has nothing but love in his heart for a city and their sports teams, and is willing to throw his money into the wind. I just have a feeling we're going to see everything differently in 5-10 years.

 

I make plenty of assumptions in my post above, but that's what I believe based on the information I have. Sorry if it offends people. 

[Johnny DangerFace]

Belief #1 - Pegula has been a secret Sabres fan his whole life, made his billions in oil, and when the Sabres came on the market he swooped in and got his toy. Now Pegula and his plucky wife are trying to turn the city of Buffalo around!

 

Belief #2 - Pegula has been a casual fan most of his life. He made his billions in a industry that requires millions of dollars of lobbying just to keep regulations at bay, and is at risk of a bombshell environmental health disaster report to be unleashed any given year. His trusted associates advise him to diversify his assets. He makes a large donation to Penn State and then hears word that a massive child sex scandal is about to break out. It would be tough to romance politicians when you're even five degrees from a pedophilia case. Someone alerts him that the nearby Sabres have been secretly shopped around since 2008 or 2009 and they see an opportunity to gain the good graces of the state and local community, while getting a bargain. Pegula buys the Sabres and is seen as a savior. He then purchases the Americans, Bills, and starts the Harbor Center project. He is primed to expand and monetize his One Buffalo brand with a terrific PR reputation.

 

Guys, I'm not Drane obviously, I don't think I'm funny enough to pretend to be. He alludes to Pegula and Benson somehow being involved and trying to cover up the scandal. Maybe there's some truth to that, who knows, but I'm not going that far. 

 

However, in my eyes, I think Pegula saw Buffalo and the Sabres as a lifeboat, rather than a dream team. I know people don't want to hear it and want their Santa Claus, but to my dying day I'll never believe that a billionaire fracker has nothing but love in his heart for a city and their sports teams, and is willing to throw his money into the wind. I just have a feeling we're going to see everything differently in 5-10 years.

 

I make plenty of assumptions in my post above, but that's what I believe based on the information I have. Sorry if it offends people. 

 

 

Those aren't even assumptions, just imagination.  Very creative though and interesting you think that way

[Formerly Allan in MD]

Did he give Penn State 75 million to benefit economically?  Sure he benefitted but not to that tune and beyond.

[dudacek]

I feel like it's my team that Terry bought. I've always been curious about why he bought my team. Why the Knoxes brought the Sabres to Buffalo (make Buffalo big league, wealthy guys giving something back to the city), why Rigas bought the team (business interests), why Golisano bought the team (maybe to save it, more likely to be a placeholder owner until he could flip it and make some money) are all important. Excuse me for my interest. It's being discussed again because there's news, pretty big news as far as I'm concerned, a statement that Terry's principal motivation was to have a platform to change the city. It's interesting stuff. Don't post in threads that bore you.

 

My opinion? The simplest explanations are usually the right ones.

 

Terry Pegula had accomplished everything he could as a fracker.

He had reached a mid-life crossroads with the means to do pretty much anything he wanted.

He decided he wanted to do something "fun" and something "good".

 

What better toy for a multi-billionaire than a professional sports team?

The Sabres were important to him at one point in his life and they were available.

That door opened others, and a fiixer-upper project about a hockey team morphed into a fixer-upper project about a city.

 

Most people want to leave a legacy of some sort.

I think this is Terry's.

 

(Thanks for the thread PA)

[deluca67]

I find the question in the title of this thread very reminiscent of when the insecure girlfriend continuously asks "why do you love me?"  

 

It just seems in the world today that for that small percentage of billionaires that purchasing a professional sports franchise is the logical thing to do. Like a private jet, mansion and tropical get away, a sports franchise seems to be a staple for the modern day billionaire. it's a status symbol. 

[woods-racer]

My opinion? The simplest explanations are usually the right ones.

 

Terry Pegula had accomplished everything he could as a fracker.

He had reached a mid-life crossroads with the means to do pretty much anything he wanted.

He decided he wanted to do something "fun" and something "good".

 

What better toy for a multi-billionaire than a professional sports team?

The Sabres were important to him at one point in his life and they were available.

That door opened others, and a fiixer-upper project about a hockey team morphed into a fixer-upper project about a city.

 

Most people want to leave a legacy of some sort.

I think this is Terry's.

 

(Thanks for the thread PA)

 

This.

 

Except the Legacy part. That is more a Jerry Jones mentality to me and I don't see it in Terry. I'm sure Jerry has a bronze statue of himself already made and waiting to be unveiled at a ceremony he already has planned out.

[nfreeman]

Belief #1 - Pegula has been a secret Sabres fan his whole life, made his billions in oil, and when the Sabres came on the market he swooped in and got his toy. Now Pegula and his plucky wife are trying to turn the city of Buffalo around!

 

Belief #2 - Pegula has been a casual fan most of his life. He made his billions in a industry that requires millions of dollars of lobbying just to keep regulations at bay, and is at risk of a bombshell environmental health disaster report to be unleashed any given year. His trusted associates advise him to diversify his assets. He makes a large donation to Penn State and then hears word that a massive child sex scandal is about to break out. It would be tough to romance politicians when you're even five degrees from a pedophilia case. Someone alerts him that the nearby Sabres have been secretly shopped around since 2008 or 2009 and they see an opportunity to gain the good graces of the state and local community, while getting a bargain. Pegula buys the Sabres and is seen as a savior. He then purchases the Americans, Bills, and starts the Harbor Center project. He is primed to expand and monetize his One Buffalo brand with a terrific PR reputation.

 

Guys, I'm not Drane obviously, I don't think I'm funny enough to pretend to be. He alludes to Pegula and Benson somehow being involved and trying to cover up the scandal. Maybe there's some truth to that, who knows, but I'm not going that far. 

 

However, in my eyes, I think Pegula saw Buffalo and the Sabres as a lifeboat, rather than a dream team. I know people don't want to hear it and want their Santa Claus, but to my dying day I'll never believe that a billionaire fracker has nothing but love in his heart for a city and their sports teams, and is willing to throw his money into the wind. I just have a feeling we're going to see everything differently in 5-10 years.

 

I make plenty of assumptions in my post above, but that's what I believe based on the information I have. Sorry if it offends people. 

 

How in the world would buying 2 of the smallest-market teams in pro sports, in a state that prohibits fracking, protect him against some hypothetical future environmental liability (never mind that the EPA has already found that fracking is harmless)?

[SwampD]

How in the world would buying 2 of the smallest-market teams in pro sports, in a state that prohibits fracking, protect him against some hypothetical future environmental liability (never mind that the EPA has already found that fracking is harmless)?

That's not quite true. What the EPA found was that fracking is harmless,… except when it isn't.

 

 

…but that's for another thread.