Backlash Against Billionaire Pegula After Yacht Sightings
Billionaire Terry Pegula, owner of the Buffalo Bills and Buffalo Sabres, has found himself facing criticism from some New Yorkers after a video surfaced showing him on his luxury yacht in Newport, Rhode Island. The situation is particularly sensitive since New York taxpayers are contributing a significant amount—$600 million—to the construction of the Bills’ new $2.1 billion stadium.
While it’s not unusual to see billionaires enjoying their lavish lifestyles, Pegula’s yacht, dubbed “Top 5 II,” comes with a hefty price tag, reportedly between $7.5 million and $100 million. This detail has drawn ire from fans, particularly since they feel that taxpayer money could be better allocated to social services or education.
“Is Pegula relaxing in Newport while the stadium is being paid for by taxpayers? It feels like a slap in the face,” one Reddit user commented. Others chimed in, expressing a range of emotions from outrage to a more tempered view that points the finger at state legislators for approving the deal.
“The cities didn’t have to agree to this—it’s their fault too,” remarked one social media user. This viewpoint highlights the complexity of the situation, as some fans recognize that while Pegula is the owner, local government bears some responsibility for the financial arrangement.
The deal has raised eyebrows, especially given that it marks the highest taxpayer investment in NFL infrastructure to date. Pegula’s reported net worth of $7 billion exacerbates feelings of resentment, especially when you consider that costs for the stadium construction have already surpassed initial estimates by $560 million.
New York Governor Kathy Hochul, herself an ardent Bills fan, acknowledged the difficulties in securing public funding, remarking back in January 2024 that passing the law “was hard,” but “we’ve done it.”
On another note, Pegula’s 200-foot superyacht, custom-built in 2021, features lavish amenities, from designer interiors to luxury facilities like a spa pool and gym. Its charter price reaches approximately $500,000 a week, further deepening the divide between the billionaire and those footing the bill for the stadium.
