The owner of the Buffalo Bills, Terry Pegula, has ignited controversy over his luxurious yacht, particularly as taxpayers in New York may have to partially finance his new $2.1 billion stadium.
Pegula has previously hinted at relocating the team from Western New York if taxpayers didn’t shoulder some of the building costs. His $100 million superyacht, named “Top 5 II,” is part of the spotlight on his wealth.
Footage of his yacht anchored in Newport recently went viral on TikTok, triggering backlash from Bills fans. Many are upset that local taxpayers in Erie County are contributing to the largest public grant in NFL history, which has been a sore subject.
“Is Pegula enjoying Newport while we fund the stadium? That’s really frustrating,” one fan commented online.
The yacht, measuring 200 feet, was custom built by Hakvoort and released in 2021, valued between $75 million and $100 million. It accommodates 12 guests in six suites and includes a crew of 18, showcasing upscale interiors with brands like Hermès and Gucci.
It comes equipped with impressive amenities such as a spa pool, sauna, gym, and extensive entertainment areas, reportedly available for charter at over $500,000 per week.
The name “Top 5 II” reportedly honors Pegula’s five children from previous marriages and his current wife. His daughter, Jessica Pegula, has gained recognition as a notable tennis player.
Bills fans expressed anger over Pegula’s perceived disconnect, with one saying, “I’m sure he’s paying more to dock than his tax contributions.” Another disgruntled supporter described the stadium deal as a “robbery,” criticizing the arrangement that sees taxpayers footing a $600 million bill, especially given that some fans support rival teams across state lines.
Critics label this arrangement as “corporate welfare,” arguing that the funds could better serve education or social services, rather than augmenting billionaires’ profits. Pegula, whose wealth is largely from fracking and natural gas, continues to rely heavily on public financing for the new Highmark Stadium.
As construction costs escalate—currently projected at $560 million over budget—some are questioning the need for lavish features, like a “heated roof” while ignoring the possibility of a more practical Super Bowl venue.
Governor Kathy Hochul noted the difficulties of navigating state legislature concerns, mentioning that support isn’t universal within New York. The Pegula family, which owns both the Bills and the NHL’s Buffalo Sabres, is accustomed to public financing for their ventures.
The Sabres have long benefitted, starting with substantial taxpayer funding for their arena in the 1990s. As the arena ages, local leaders are already discussing new investments, which may again call for the public’s financial support.
This report has sought input from Pegula and Hochul.
