Terry Pegula needs to sell the Buffalo Sabres (article)

[jad1]

13 minutes ago, Sidc3000 said:

I think it’s funny that you both think evaluations and net worth means that Terry just money laying around. a large amount of his money is tied up in both franchises along with other investments. 
 

Right, he's the poorest multi-billionaire on the planet.

When Terry bought the Bills, his net-worth was around $4B.  He bought the Bills for $1.4B cash.

So back then his liquidity was at least roughly 1/4 of his net worth.  What would change that now to a point where he's so cash poor that he needs to negatively impact the Sabres chance to win by cutting costs?

 

Edited 14 hours ago by jad1

[Slack_in_MA]

7 hours ago, mjd1001 said:

It shouldn't be. But, there are probably some people that are a lot happer with $10 billion than they are with $9.5 billion. It may not be the 'level' of wealth he has, but the 'direction' of it, or even the speed it is going in that direction.

So, I don't want to say its the money or it isn't...instead, to me one quote is even more important and probably more relevant: 

"You do love this team; your words about that and your passion for its history are true. You want to be involved with everything out of love… and your ego. YOU want to be the answer. YOU want to know best. YOU want to prove it. The problem is you can’t, and you refuse to move over." 

I think Pegula is both very sensative and has an ego. The kind of ego that is a little tiny bit on the vindictive side.  "You do me wrong...I'll exercise my power over you." Or "You criticize me? I'll prove you wrong by doing what I have been doing MY WAY until it works out" (basically, digging his heels in to not admit defeat)

Just my impression of him.

 

I agree. I think TP is determined to prove himself a maverick and prove everybody wrong that he did it Myyyyyyyyyy Waaaaayyyyyyyy!

Edited 10 hours ago by Slack_in_MA

[Carmel Corn]

1 hour ago, jad1 said:

He fired a GM who was a failure, whether he was listening to him or not. The fact that he and Kim  gave Botts a vote of confidence a week before the firing but decided to axe him after conducting end of year reviews shows that he wasn't as wired into day-to-day activities as many claim he was.  

Daily calls? This why I try to get a definition on meddling, because an owner having a daily call with the GM really doesn't meet the definition of meddling, nor does it imply an ego.

 

 

IMHO - having a daily call with the team owner is EXACTLY indicative of a meddlesome boss.  

[K-9]

34 minutes ago, Sidc3000 said:

I think it’s funny that you both think evaluations and net worth means that Terry just money laying around. a large amount of his money is tied up in both franchises along with other investments. 
 

No, I don’t think evaluations and net worth means Terry just has money lying around. I just disagree with your assertion that he needs every penny he has for his “primary franchise” when he’s never come close to that at all. 

[Crusader1969]

52 minutes ago, jad1 said:

Right, he's the poorest multi-billionaire on the planet.

When Terry bought the Bills, his net-worth was around $4B.  He bought the Bills for $1.4B cash.

So back then his liquidity was at least roughly 1/4 of his net worth.  What would change that now to a point where he's so cash poor that he needs to negatively impact the Sabres chance to win by cutting costs?

 

hey I have an idea who say Poor Terry is cash poor.   Sell the Sabres.  That will help the cash flow!!!

[jad1]

5 minutes ago, Crusader1969 said:

hey I have an idea who say Poor Terry is cash poor.   Sell the Sabres.  That will help the cash flow!!!

Unfortunately, Pegula doesn't have a cash flow problem. 

[Sidc3000]

57 minutes ago, K-9 said:

No, I don’t think evaluations and net worth means Terry just has money lying around. I just disagree with your assertion that he needs every penny he has for his “primary franchise” when he’s never come close to that at all. 

Poor choice of words. He cut costs with the Sabres to maximize his income to help fund the new stadium 

[LGR4GM]

10 hours ago, Sidc3000 said:

Poor choice of words. He cut costs with the Sabres to maximize his income to help fund the new stadium 

He just got 1 billion dollars by selling a portion of the Bills. He doesn't need money. 

Edited 1 hour ago by LGR4GM
Spelling

[Brawndo]

5 hours ago, Pimlach said:

The temperature is getting higher here than it should. 

 I’m not buying that he “needs” to sell them.  I would say to just what the Knox’s did.  Hire the best people you can get, look for winning NHL pedigree at the highest levels of the organization like POHO and GM.    What flows down from them will be good. Step away and let them do their job.  Provide resources and help establish a winning and first class culture. 
 

 

 

The irony is Terry introduced himself to Scotty Bowman at the 2011 Bowman Showcase, he asked Bowman what made Mike Ilitch such a successful owner. Bowman replied the first time he met with Mike Ilitch, Illitch told him, I know how to be successful at selling pizzas, I do not know how to build a hockey team, you tell me what you need each season I will make sure you have it and stay out of the way.  Pegula would be wise to do the same with his hockey team 

[Kristian]

8 hours ago, Brawndo said:

The irony is Terry introduced himself to Scotty Bowman at the 2011 Bowman Showcase, he asked Bowman what made Mike Ilitch such a successful owner. Bowman replied the first time he met with Mike Ilitch, Illitch told him, I know how to be successful at selling pizzas, I do not know how to build a hockey team, you tell me what you need each season I will make sure you have it and stay out of the way.  Pegula would be wise to do the same with his hockey team 

But, but…. Pegula is SO much much more knowledgeable about hockey, than Illitch…. That quote could NEVER apply to him.

Someone else, yes. Not HIM, surely.

[Sidc3000]

9 hours ago, LGR4GM said:

He just got 1 billion dollars by selling a portion of the Bills. He doesn't need money. 

OMG I know he’s a multibillionaire and he doesn’t “need the money”. Ever hear of resource allocation or portfolio management. Several years ago he knew he would need to build a multibillion dollar stadium for the Bills which was the most  successful business for him.  In my opinion, that’s why he was cutting cost of the Sabres and got rid of PSE along with his music management endeavors. 

That’s the only explanation I can think of as to why he would cut costs so severely with the Sabres.

 

[LGR4GM]

22 minutes ago, Sidc3000 said:

OMG I know he’s a multibillionaire and he doesn’t “need the money”. Ever hear of resource allocation or portfolio management. Several years ago he knew he would need to build a multibillion dollar stadium for the Bills which was the most  successful business for him.  In my opinion, that’s why he was cutting cost of the Sabres and got rid of PSE along with his music management endeavors. 

That’s the only explanation I can think of as to why he would cut costs so severely with the Sabres.

 

The Sabres would be a more valuable asset if they made the playoffs. That helps his portfolio way more than losing 15 million a year in immediate costs. 

I have another explanation. He thinks, he can run the Sabres efficiently and whatever the other E's were and they'll be fine. Since the Bills are the darlings of the NFL with Josh Allen, he just doesn't care about his hockey team. So you've got a guy who thinks his eee crap will work but who also is thoroughly distracted by the wining and dining he gets in NFL circles. On top of that, he's egotistical enough to think he's right. Ppl like him so often know enough to think that they are right, but not enough to know when they are wrong. 

Pegula is out of his depth, doesn't believe he is, is distracted by a shinier toy, wants his yes men to tell him it's fine, and to do what all billionaires do... more more more more more.

[Flashsabre]

He doesn’t need to sell but he needs to change his philosophy if he wants the Sabres to succeed. It means finally bringing in a seasoned, successful NHL exec to run the team. Im going to use Ken Holland as an example.  Hire Holland as POHO. Holland has autonomy to hire who he wants and set up the organizational structure as he wants. The financial handcuffs have to come off and Holland has to be able to spend. Get a quality GM and surround him with more quality hockey people in the FO. Hire a respected coach who is allowed to bring in his handpicked staff. Really beef up the Scouting Dept, especially pro scouts and the Player Development staff. Not just ex Sabres who live locally. A guy like Holland being in charge would help to change the narrative around the organization and start to attract quality people to the team which in turn attracts players and agents to consider the team again. Doesn’t have to be Holland but he is the type of person Pegula needs to start to change things.

Pegula would have to put his ego aside. You would think after 14 years of missing the playoffs you would look in the mirror and say “My way doesn’t work.”