Terry Pegula is a self-made success story, rising from humble beginnings to become one of the most respected leaders in the energy industry and a professional sports owner that operates franchises in multiple sports.On Feb. 22, 2011, Terry and Kim Pegula, who had previously been season ticket holders, realized their dream of owning a hockey franchise by purchasing the NHL’s Buffalo Sabres. They followed up their commitment to hockey by purchasing the AHL’s Rochester Americans later that year, restoring a longtime affiliation between the Sabres and Amerks.Together with Kim, Terry added another franchise to their Buffalo holdings on Oct. 8, 2014. The Pegulas received the unanimous approval of NFL owners to succeed Pro Football Hall of Famer Ralph C. Wilson, Jr. and become the second owners in the storied history of the Buffalo Bills.Terry serves as Owner, CEO, and President of the Bills and currently sits on the following NFL committees: the Health and Safety Committee and the Business Ventures Committee. In 2016, the Pegulas were honored with the Tank Younger Award, which recognizes extraordinary contributions toward diversity in the NFL. In addition to the Sabres and Bills, Terry and Kim also own the NLL’s Buffalo Bandits, who have won three league championships under their ownership.
Raised in Carbondale, Pennsylvania, Terry is a 1969 graduate of Scranton Preparatory School. He entered Penn State University as a math major and then entered the Petroleum and Natural Gas Engineering Program. He went on to graduate with a Bachelor of Science degree in 1973 and landed his first job with Getty Oil Co. in Victoria, Texas. He later joined Felmont Oil Co. as an Area Engineer, a decision that brought him to Olean, New York in 1975.
In 1983, Terry borrowed $7,500 from family and friends to create East Resources Inc., an independent oil and gas exploration and production company operating in the Appalachian Basin. Over the next 27 years, Terry built East Resources, Inc. into one of the largest privately held companies in the United States. In July of 2010, Royal Dutch Shell purchased the assets of East Resources, Inc. In 2011, Terry capitalized and sold oil and gas assets to help form HG Energy, which becage a significant operator in West Virginia. In 2012, Terry formed JKLM Energy, LLC. JKLM Energy is staffed with many former East Resources, Inc. employees and takes pride in contributing to U.S. energy independence by producing Pennsylvania natural gas, elevating the state into one of the top-producing regions in the world.
Upon the sale of East Resources’ assets, Terry focused his attention on sports. In September of 2010, the Pegulas announced a gift of $102 million to construct Pegula Ice Arena on the campus of The Pennsylvania State University, paving the way for Division I hockey at Penn State and helping to form the Big Ten Hockey Conference.The Pegulas began construction of a multipurpose ice complex in Buffalo, New York and opened LECOM Harborcenter in 2014. The more than $200 million dollar, personally financed complex, next door to the Sabres’ KeyBank Center, includes two NHL-size hockey rinks, training facilities, three restaurants, a full-service Marriott Hotel and parking. The combination of KeyBank Center and LECOM Harborcenter have allowed Buffalo to be a center for hockey, hosting the 2016 NHL Draft, NHL Combine, 2018 IIHF World Junior Championships and the 2019 Men’s NCAA Frozen Four.
In addition to overseeing the family’s sports operations, Terry runs JKLM Energy in Pittsburgh and his family business operations in Boca Raton, Florida. Terry and Kim have five children: Michael, Laura, Jessica, Kelly and Matthew. Jessica competes on the Women’s Tennis Association Tour, currently ranking top 5, and she was a member of the 2021 and 2024 US Olympic Teams.