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
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
Originally Posted by mysticsoto
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.
DetoxTent (05-01-2024),Lone Stranger (05-01-2024)
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.
3
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.
I just wish Kim would get healthier.
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Very unfortunate.
All our best wishes to Kim and the entire Pegula family.
1) Ari
2) @ Mia
3) Jack
4) @ Balt
5) @ Houston
6) @ Jets
7) Tenn
8) @ Seat
9) Mia
10) @ Colts
11) KC
12) Bye
13) SF
14) @ LAR
15) @ Det
16) Pats
17) Jets
18) @ Pats
notacon (05-02-2024)
Tragic
notacon (05-02-2024)
Very sad. Kim seemed to have the world by the tail. Life can change in an instant.
Jeff1220 (05-03-2024),TheConsigliere (05-01-2024)
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 (05-02-2024)
You must feel humiliated for the continuous ragging you've done on her all these years.
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.
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?
looks like he did it about a year ago.
Hopefully you are right, and she's improving.
We can only hope.
Those are different issues and this is a very ****ty thing to say.
TheConsigliere (05-03-2024)
Not really.
I never wanted her incapacitated for being waaaaaaaaaaay over her head in positions her husband put her in.
Her health situation does not change that.
Do you generally have no idea WTF you are talking about or is it limited to this issue?
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He is an idiot.
You ragged on her relentlessly and repeatedly. You openly suggested the Terry married Kim because she was providing him with oral sex. You did that repeatedly. So don't try and turn things around when someone calls you out for your stupid behavior.
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