Owner Pegula dissolves Buffalo Sabres, Bills' parent company

BUFFALO, N.Y. -- The NFL's Buffalo Bills and the NHL's Buffalo Sabres will operate as separate entities after the teams' owner Terry Pegula dissolved their parent company on Monday.

The announcement to dissolve Pegula Sports and Entertainment is being referred to as one "allowing each respective organization to focus singularly on their efforts." The decision marks the next step in a management restructuring Pegula began in July, when he fired executive vice president and COO Ron Raccuia, who oversaw the operations of both franchises.

Pegula appointed himself as Sabres president, a title he now has with both teams, and previously held by his wife. Kim Pegula has been unable to fulfill her…