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Kim, Terry Pegula Will Be NFL's Fourth-Richest Owners, But Lead Modest Lifestyle

When NFL owners welcome prospective Bills Owners Terry and Kim Pegula into "one of America's most exclusive clubs" this week, they will be "accepting into their ranks one of the richest couples in the nation," according to Tom Precious of the BUFFALO NEWS. Forbes data shows that the Pegulas "will become the NFL’s fourth-wealthiest team owners with assets" of $4.6B. Terry Pegula, a "self-made billionaire," and his wife "have the usual trappings of money." But "despite that wealth, they are described by people who know them as modest and anything but flashy." Whether Pegula is "working on oil and gas, country music or professional hockey," he is "hands on, acquiring, analyzing and discussing at length the smallest details of his businesses." As profits from his energy companies "began to come in, Pegula started to invest in opportunities where he had personal interests: Specifically, country-western music and sports." Precious cites records as showing that Pegula's holdings in recent years have grown "to include a country music label, a Nashville recording studio and now two major sports franchises," the Sabres and Bills. Pegula "is known for his lean operations, small enough that he and his wife can hire people they personally trust" (BUFFALO NEWS, 10/5). ESPN’s Adam Schefter said of the Bills' sale, “That sale is expected to be approved at the owners meeting on Wednesday and then they will begin to make their mark on that team after a distinguished ownership by the Wilson family” (“SportsCenter,” ESPN, 10/6).

LEGACY OF BENEVOLENCE: In Buffalo, Zremski & Graham cited a source as saying that a "large portion" of the $1.4B paid for the Bills by the Pegulas to the estate of late Bills Owner Ralph Wilson Jr. "will go to the Ralph C. Wilson Foundation." The source added that Wilson "instructed that the money be spent only in Detroit -- his hometown -- and Buffalo." The source also said that the foundation "will be aggressive in supporting charitable causes in Buffalo" (BUFFALO NEWS, 10/4).

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