Sabres renew lease agreement until 2031.

The Buffalo Sabres have recently announced their decision to extend their lease at KeyBank Center, signaling their commitment to the arena until 2031. The team had until September 30 to exercise this option, and they have chosen to continue their tenure at the facility.

Sabres Chief Operating Officer Pete Guelli emphasized the Pegula family’s ongoing investment in the city of Buffalo and highlighted the significance of KeyBank Center as a vital asset for growth. Guelli expressed optimism about the upcoming five years, during which discussions for a long-term plan for the arena can take place, benefiting both the Sabres and the Western New York community.

Owner Terry Pegula has taken responsibility for all interior enhancements at KeyBank Center in recent seasons. Notable improvements include the installation of a new video board, roof repairs, a modern sound system, and upgraded technology for building entry and concession stands. Guelli underscored the economic impact of the arena on the community and expressed a desire to attract more events, particularly high-profile ones, to the venue.

Looking ahead, negotiations for potential public assistance for KeyBank Center upgrades could involve entities such as Erie County, the State of New York, or the City of Buffalo. Erie County Executive Mark Poloncarz has stated the county’s desire to divest from the arena business but remains open to discussions with the Pegulas. The current lease arrangement involves the county owning the building, while the city possesses the property on which the facility stands.

While talks regarding the arena’s future may evolve over time, both Guelli and Poloncarz have indicated a preference to focus on completing the new Buffalo Bills stadium project in Orchard Park first. The Sabres’ lease extension at KeyBank Center underscores their commitment to the continued development of the arena as a hub for sports and entertainment in Western New York.