Bills transfer portion of ownership to daughter Laura

[Dr. Lecter]

Terry Pegula, with Kim legally incapacitated, transferred small percentage of Bills to daughter Laura Pegula https://t.co/EM1y3uuI7o

— Tim Graham (@ByTimGraham) May 1, 2024

[Dr. Lecter]

Re: Bills transfer portion of ownership to daughter Laura

From the article

Palm Beach County Circuit Civil Court documents show that on Feb. 13, 2023, Terry Pegula filed to have Kim ruled incapacitated and to be made her guardian. A panel of three court-appointed examiners recommended incapacitation, and on March 23, 2023, a judge named Terry the “plenary guardian of the person and property” of his wife.

The documents also show that many of Kim’s assets have been placed in a trust, with Terry and longtime petroleum business collaborator Bob Long listed as co-trustees.

[POTLAND PSILBYLO]

Re: Bills transfer portion of ownership to daughter Laura

That's so sad. I can't imagine, but then I can. My aunt got EEE in her 50's, and then a few years later was institutionalized. My uncle visited and cared for her every day - a solid man.

[ghz in pittsburgh]

Re: Bills transfer portion of ownership to daughter Laura

It is very unfortunate.

One of my friend did notice and told me that in Bills draft room pictures, Laura Pegula and the youngest son of Kim and Terry are shown a few times in the draft room, couple of the pictures prominently. I don't pay much attention to these things but that friend of mine is a lawyer and he said in his memory, Terry's kids were never photo-ed in draft room. It makes sense now that Laura is a part owner.

Terry is 71. In 7-9 years, the succession plan may be a little more fore-front. Looks like Terry may want to keep the Bills in his family and thus involves his oldest daughter (from previous marriage) and a son into the Bills ownership business now.

[YardRat]

Re: Bills transfer portion of ownership to daughter Laura

I just wish Kim would get healthier.

[DetoxTent]

Re: Bills transfer portion of ownership to daughter Laura

Very unfortunate.

[Woodman]

Re: Bills transfer portion of ownership to daughter Laura

All our best wishes to Kim and the entire Pegula family.

[TheConsigliere]

Re: Bills transfer portion of ownership to daughter Laura

Tragic

[Novacane]

Re: Bills transfer portion of ownership to daughter Laura

Very sad. Kim seemed to have the world by the tail. Life can change in an instant.

[sahlensguy]

Re: Bills transfer portion of ownership to daughter Laura

So sad.

The move comes in the aftermath of co-owner Kim Pegula's heart attack that has left her incapacitated. Terry and Kim had owned the team on a 50-50 basis. In March 2023, Terry became her guardian, with many of her assets placed in a trust.

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Not long thereafter, Terry "transferred a small percentage of the Bills to Laura to satisfy a league policy that aids in succession planning," per the report.

Given the league's requirement that every controlling owner submit an annual succession plan that names the person who would take over if the controlling owes dies or becomes legally incapacitated, this implies that Laura is the named successor to Terry. While that can change, it points to Terry eventually assigning the team to Laura.

Laura is Terry Pegula's daughter from a prior marriage. Jessica, the daughter of Terry and Kim, also has expressed a desire to become involved in management of the team.

At this point, the big decisions will apparently be made by Terry. It's important that he have a clear and firm succession plan in place. Pat Bowlen, the late owner of the Broncos, divided the team among his seven children but put none of them in charge. That eventually resulted in the sale of the team. Similarly, Titans founder Bud Adams divided the equity in his team among the three branches of his family tree without putting any of them in charge, creating years of uncertainty and understated acrimony with the league over the question of control.

Whatever Terry Pegula does, it's important for him to have a clear plan in place before he dies or becomes unable to make such decisions.

[DetoxTent]

Re: Bills transfer portion of ownership to daughter Laura

Tragic

You must feel humiliated for the continuous ragging you've done on her all these years.

[Forward_Lateral]

Re: Bills transfer portion of ownership to daughter Laura

Oh man, I thought Kim was getting better.

That's terrible.

[sahlensguy]

Re: Bills transfer portion of ownership to daughter Laura

Oh man, I thought Kim was getting better.

That's terrible.

It doesn't say that's she not getting better.

The NFL requires annual recession plans from each club. Much of this happened in 2023.

I'm hopeful she is getting better and that this is just prudent business dealings.

[Forward_Lateral]

Re: Bills transfer portion of ownership to daughter Laura

It doesn't say that's she not getting better.

The NFL requires annual recession plans from each club. Much of this happened in 2023.

I'm hopeful she is getting better and that this is just prudent business dealings.

I have no idea what her medical situation is, but if her husband has declared her incapacitated, it can't be good.

[sahlensguy]

Re: Bills transfer portion of ownership to daughter Laura

I have no idea what her medical situation is, but if her husband has declared her incapacitated, it can't be good.

It can't be good. But when did he declare her incapacitated?

This could have happened some time ago, and she actually might be improving?