**Billionaire Terry Pegula Faces Backlash Over Yacht Amid Stadium Funding Controversy**
Billionaire Terry Pegula, owner of the NFL’s Buffalo Bills and NHL’s Buffalo Sabres, is under fire from some New Yorkers after a video surfaced showing his luxury yacht anchored in Newport, Rhode Island. While it’s not uncommon for billionaires to own extravagant vessels, Pegula’s $100 million yacht, “Top Five II,” has drawn criticism, especially as New York taxpayers are contributing to the $2.1 billion cost of a new stadium for the Bills in Buffalo.
Many fans from the “Bills Mafia” expressed their outrage on social media. One Reddit user lamented, “The Pegulas are relaxing in Newport while we pay for the stadium? That’s a slap in the face.” Another added, “Love the Bills, but this stadium deal is robbery. Pegulas pay nothing while we go broke.”
While some fans are directing their anger at Pegula, others are shifting the blame to state legislators. A user on X pointed out, “The city didn’t have to approve the deal. They did. And he also put a damn good product on the field before building a new stadium. I’m not really standing with the billionaires here, but I’m just saying, the city approved it. Not Terry.”
The funding breakdown for the new Highmark Stadium reveals that New York taxpayers will contribute $600 million, while Erie County taxpayers will add $250 million. This marks the largest amount of taxpayer money ever allocated for an NFL stadium. Critics of the deal argue that with Pegula’s reported net worth of $7 billion, the funds could be better utilized in areas like social services or education. Compounding the frustration is the fact that the construction costs have exceeded initial estimates by $560 million.
New York Governor Kathy Hochul, a lifelong Bills fan from Buffalo, acknowledged the challenges in securing taxpayer funding for the stadium, stating in January 2024 that it was “hard” to pass the legislation, but “we got it done.”
Pegula’s 200-foot superyacht, custom-built and delivered in 2021, is valued between $75 million and $100 million. The yacht features luxurious designer interiors, including elements from Louis Vuitton and Gucci, and boasts amenities such as a glass-sided spa pool, sauna, gym, and cinema lounge. It is reportedly available for charter at approximately $500,000 per week.
As the controversy unfolds, the implications of taxpayer funding for sports facilities continue to spark debate among fans and taxpayers alike.
**FAQ**
**Q: Why are New Yorkers upset with Terry Pegula?**
A: Many New Yorkers are frustrated because Pegula’s luxury yacht was spotted while taxpayers are funding a significant portion of the new stadium for the Buffalo Bills, leading to concerns about the fairness of the funding arrangement.