Double Whammy for Bottom-Ranked Sabres Ownership After Terry Pegula’s $100M Yacht Triggers Backlash From Taxpayers

Buffalo Sabres' billionaire owner Terry Pegula heavily criticized by fans and media for luxurious lifestyle while his teams rely on public support.

The Buffalo Sabres are coming off yet another disappointing season, having finished second-to-last in the Atlantic Division with 36 wins and 39 losses in 82 regular-season games. The team last made the playoffs in 2011, resulting in the longest playoff drought in the league at the moment.

To make matters worse for the Sabres, the team’s billionaire owner, Terry Pegula, has recently come under the harsh scrutiny of the media and the community, triggering widespread discourse on social media.

Why is the Buffalo Sabres’ Billionaire Owner Facing Criticism?

Things are not going great for the Sabres on or off the ice. According to Jason Bukala, writing for Sportsnet in December 2024, there are several pressing reasons why the Sabres’ trajectory has been so heartbreaking, including bringing in too many young players. “The fact of the matter is the Sabres have thrust too many of their young players into the NHL before they were ready for full-time duty, and tasked them with important roles and assignments.”

Bukala also stated that the Sabres struggle with a “disconnect” in their development plan. “From a distance, the Sabres seem disconnected when it comes to structuring a draft and development plan.” The team has suffered from mismanagement, and the recent noise surrounding Pegula doesn’t help redeem the Sabres’ image.

An X post by the ‘New York Post’ (NYP) bearing the caption, “Buffalo Bills owner’s $100M yacht sparks outrage as taxpayers fund $850M stadium”, triggered adverse reactions from fans. Pegula also owns the NFL’s Buffalo Bills, and according to a New York Post piece by Ariel Zilber, “…once threatened to move the Bills out of western New York if taxpayers refused to shoulder part of the cost to build a new venue”.

Fans expressed their disdain for Pegula’s extravagance, but at the same time, many did not seem surprised by it: “This just in, Billionaire owns $100M yacht. Also, water is wet, sun is hot, and sky is blue. More at 11”, commented a social media user. 

Another user made a scathing political remark, their contempt adequately evident: “If you’re not getting 850 million from taxpayers and rolling around on a 100 million yacht, you’re not billionairing properly. Governments work with billionaires to push their interests in exchange for political donations and additional perks, all while people struggle to survive.”

A third user bluntly stated that the people of Buffalo were not bothered by Pegula’s yacht. “Just stirring the pot. PEOPLE IN BUFFALO DO NOT CARE. This started on X Few days ago.”

Not just the Bills, the Sabres, too, have long been supported by public funds. The NYP analysis read, “The Sabres have long relied on taxpayer support, starting with the construction of KeyBank Center in the 1990s, when public funds covered about $55 million, or 45% of the total cost. The team’s HarborCenter project later received roughly $57 million in state and local tax breaks, making it one of Buffalo’s most heavily subsidized downtown developments.”

The community has criticized Pegula’s extravagant lifestyle while his NFL and NHL teams rely extensively on public support. All this noise surrounding the Sabres’ ownership is barely what the team needs right now as it gears up for another NHL season, hoping to salvage its lost reputation.

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