After experiencing a severe heart attack nearly two years ago, Kim Pegula, co-owner of the Buffalo Bills, has faced ongoing health challenges diverging sharply from the trajectory of safety Damar Hamlin. In a story by Tim Graham for The Athletic, it was disclosed that in February of this year:
“Terry Pegula petitioned for Kim to be declared incapacitated and for him to be appointed as her guardian. Following recommendations from three court-appointed examiners, a judge on March 23, 2023, appointed Terry as the ‘plenary guardian of the person and property’ of his wife.”
A source described as a “longtime Pegula family associate” and familiar with Kim’s condition and prognosis stated, “‘Kim is not coming back'” — implying a return to either the Bills or Sabres front office seems unlikely.
Recently, Terry has transferred a minority ownership stake to his eldest daughter, Laura Pegula, in compliance with NFL policies aimed at succession planning. Since Kim’s heart attack, Terry has increasingly involved Laura — his 41-year-old daughter from his previous marriage — in the operations of the Buffalo Bills and Buffalo Sabres. Laura represented the Bills at the annual owners meeting last year and has been seen representing the team in various key situations.
13 months ago, a court ruled Kim Pegula incapacitated and appointed Terry Pegula "plenary guardian of person and property."
To meet NFL succession plan guidelines, Terry has designated Laura, daughter from his first marriage, to take over Bills if needed.https://t.co/LzGxaHsRtE
— Tim Graham (@ByTimGraham) May 1, 2024
However, amidst these changes, not all press coverage has been positive. Some of the negativity might be attributed to the unfortunate timing, particularly concerning the discussion around the team’s new stadium, which is largely publicly funded and set to open in 2026 with a 30-year lease and a non-relocation clause. Despite assurances from the lease, concerns about the team’s future in Western New York have resurfaced, especially considering Kim’s health issues and Terry’s recent financial moves.
When the Pegulas bought the Bills a decade ago, it was assumed that Kim would succeed Terry due to their significant age difference. But with Kim’s health uncertainties, these plans seem to have shifted. Terry’s recent exploration of selling a minority stake in the team suggests a need to offset costs for the new stadium, but his intentions remain speculative.
The Pegulas initially announced that the team would eventually be passed on to their children, but recent events have accelerated this timeline. With Laura’s increased involvement and ownership stake, it’s likely she’ll become the primary successor in NFL ownership. However, questions remain about the involvement of Terry and Kim’s other children, Jessica, Kelly, and Matthew, in future ownership, particularly considering Jessica’s successful tennis career and her husband’s past role with the Bills.
While the Buffalo Bills seem secure in Orchard Park for the foreseeable future, uncertainties linger about the team’s ownership structure and succession plan. Terry Pegula appears to be taking steps to secure the team’s long-term future, but only time will reveal how these plans unfold.
