BUFFALO, N.Y. (February 22, 2011) --- The Buffalo Sabres today introduced Terry Pegula as the team's new owner during a press conference at HSBC Arena that was attended by current and former Sabres players. Pegula becomes the fourth owner in franchise history, taking over from B. Thomas Golisano who owned the team from 2003-2011. The Sabres also announced that Ted Black has been named the team's new President and Alternate Governor, and Ken Sawyer will serve as the team's Senior Advisor.
A lifelong hockey fan, the 59-year-old Pegula was a Sabres season ticket holder from 1980-98 as he spent time living in both Olean and Orchard Park, NY, while operating East Resources Inc., an independent exploration and development company. A native of Carbondale, PA, Pegula founded East Resources Inc., in 1983. Over the next 27 years, he built it 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. for $4.7 billion (US).
In September 2010, Pegula and his wife Kim donated $88 million to Penn State University -- the largest private gift in the history of the school -- to fund a state-of-the-art, multi-purpose arena, a world-class practice facility and help to establish an NCAA Division I men's hockey program.
Black joins the Sabres following two years as the Senior Vice President and General Manager of FSN Pittsburgh. Prior to that he was a member of Mario Lemieux's senior management team and served as Vice President of the Pittsburgh Penguins from 1999-2008. Black was instrumental in the initial design and construction vision of the Penguins' new state-of-the-art home, the CONSOL Energy Center.
Now in their 40th anniversary season as an NHL franchise, the Sabres have an all-time record of 1514-1183-477 in 3,174 games.