Now to our last team we’re looking at being vulnerable for a move, the Buffalo Sabres. You had to know this troubled franchise was going to be on the list. Despite not having any issues with their arena, this team has had major attendance issues, not to mention a lot of turmoil and turnovers with GMs, coaches, and players. Plus, there’s the drama that eventually became the Jack Eichel trade. Let’s look at Buffalo.
The Sabres came in the league 52 years ago. In that time, they’ve gone through 5 ownership periods. Seymour Knox III and Northrup Knox were the original owners. John Rigas took the team to near bankruptcy, a point where they almost missed payroll. The NHL had the team for a year. Tom Golisan and Larry Quinn purchased the franchise. Then, Terry and Kim Pegula became owners in 2011 by purchasing the Sabres for $189 million. They were proclaimed saviors at the time because they didn’t have the highest bid, but the higher bidder’s purchase was contingent on moving the team, while the Pegulas were committed to Buffalo.
The Pegulas purchase of the team initially sparked the Sabres. They ended up making the playoffs that season when they were not expected to. But since that 2011 purchase and playoffs, it’s been a playoff drought. The Sabres have gone 11 seasons without a post-season appearance.
Even without a playoff appearance in 9 seasons, the 2019-20 season saw average attendance at 17,167. But then came COVID, the continuing GM/coach carousel, and the Jack Eichel drama and last season’s average was 8,700, approximately 45% of capacity at Key Bank Arena (the worst in the league). Fans seem to be fed up with the franchise, the season ticket base is now at an estimated 6,500, 1/3 of what it was in the 2010s.
In 2020 one fan took to Craigslist to demonstrate frustration with the franchise. Jill Thompson, a fan of the team since the late 80’s, put an ad on the website “…looking for a wealthy owner who actually understands hockey.” But when asked about the Sabres and Pegulas during the 2022 All-Star break, commissioner Gary Bettman told the media he had faith in the Pegulas, and he believed they could revive the franchise.
Around a year ago, former NHL GM and coach Doug MacLean told Nick Kypreos on his podcast he’d heard a friend of John Tortetella’s was linked to purchasing the Sabres. While nothing materialized from that, it’s interesting to note Kypreos commented he’d heard the Pegulas had been looking to move on from the NHL. That would make sense with their ownership of the NFL’s Buffalo Bills. A couple of other things that should be noted is that they run their sports teams from Boca Raton, Florida and Kim Pegula had health issues over the summer that lead her to be hospitalized in the ICU of a Boca Raton hospital. It could very well be that the 71-year-old Terry Pegula and his wife might be looking to lighten the load of their sports empire.
So, with only one playoff appearance right after the purchase and a 281-354-94 record since taking over, maybe it’s time for the Pegulas to move on. It seems like the team would be ripe for a for sale sign, as they do seem to be making some improvements on the ice. Could this be the time? Is there interest? Would there be a no move restriction? My bet is there are billionaires out there that’d love to own a sports franchise of any kind. I’d also bet given how the Pegulas purchased the team and the fact they own the Bills, a sale would contingent on the team staying in upstate New York.