So who is this mysterious man that has burst onto the hockey scene, first by bringing a Division I hockey team to Penn State, and now apparently purchasing the Buffalo Sabres?Terrence Pegula hails from Carbondale, Pennsylvania, and attended Penn State where he earned a degree in Petroleum and Natural Gas Engineering.
He made his multi-billion dollar fortune as the founder and CEO of East Resources, a privately held company founded in 1983 and based in Warrendale, Pennsylvania. In July, the company was sold to Dutch Royal Shell for $4.7 billion.
Pegula and his wife also co-founded Black River Music Group in Nashville, Tennessee, and Ayrault Sports Agency in Charlotte, North Carolina.
In September, the Pegulas donated $88 million to Penn State to fund the construction of a new hockey arena and the creation of a brand-new Division I program.
Mr. Pegula’s ties to the Buffalo area begin with his wife, who grew up in western New York and is a huge Sabres fan. Pegula himself has lived in Orchard Park and Olean.
The Pegulas currently live in Boca Raton, Florida.
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