Last January, within a couple of weeks of the Buffalo Bills reaching the playoffs for the second time in three seasons, owner and president Kim Pegula spoke to her employees about tightening their belts.



Over the course of a few days, Pegula addressed various departments via video conference from the family’s home office in Boca Raton, Fla. She explained raises and bonuses should not be expected aside for those, such as coaches and players, contracted to receive them. Budgets would be scrutinized.



Times ahead were going to be difficult, Pegula stressed, and sacrifices must be made. The tone underscored worries that had been circulating among workers at various Pegula Sports and Entertainment properties. They already feared Terry and Kim Pegula were eyeing additional cutbacks to right-size a sports, media and hospitality empire that expanded too rapidly.



Kim Pegula’s video presentation included a rundown of organizational objectives. One particular...