Terry Pegula, the owner of the Buffalo Bills, transferred a “small percentage” of the team’s ownership to his daughter, Laura Pegula, in response to his wife Kim Pegula’s ongoing health issues. Kim, who suffered a cardiac arrest in June 2022, has been in recovery, and as of March 2023, Terry was named the plenary guardian for her, which means he has legal authority to make decisions on her behalf.
This ownership transfer was done in compliance with NFL’s “succession planning” policy, which ensures that a team has a clear plan for ownership in case of unforeseen circumstances, such as health issues affecting the owners. The transfer of a small percentage of ownership to Laura Pegula helps address this succession requirement while also reflecting the reality of Kim’s condition.
”In July 26, Terry Pegula Drove in the practice ground with Kim it was a very joyful triumphant, As she counted three, two, one Bills to break rhe handle,left tackleDion Dawnkins Said”
While Kim Pegula continues her recovery, her family is managing the business and operations of the Buffalo Bills and Sabres, with Terry taking the lead.
You’re correct in highlighting the importance of the NFL’s succession planning guidelines. According to league rules, every team must file an updated succession plan each May, which is subject to approval by the league. This ensures that teams have a clear structure in place for ownership transitions, should the need arise due to unforeseen events, such as health issues or other significant changes.
As part of these requirements, the plan must designate a successor with a controlling interest in the team. This is intended to make any potential transition smoother and reduce the chances of family disputes over control of the team. In the case of Terry and Kim Pegula, with Kim’s ongoing recovery, the decision to transfer a small percentage of the Buffalo Bills’ ownership to their daughter, Laura Pegula, was likely a move to comply with these guidelines. It ensures that the Pegula family has a designated person with ownership stakes who can help manage the team in the event of further complications with Kim’s health.
This action is in line with the NFL’s efforts to maintain stability within its franchises and to avoid potential issues with ownership, which could disrupt team operations.
Laura was recently present and represented the Bills both during NFL commissioner Roger Goodell’s annual state of the league address and during the NHL Buffalo Sabres announcement on the hiring of head coach Lindy Ruff.
