The Buffalo Sabres have announced they will extend their lease at KeyBank Center through September 2031. The decision follows an agreement with Erie County that allowed the team to either continue for five more years or opt out by September 30.
Sabres COO Pete Guelli stated, “The Pegula family continues to invest in our city, and there is no greater vehicle for growth than KeyBank Center. The next five years give us a chance to discuss a long-term plan for the arena that benefits both the Sabres and Western New York.”
Earlier this year, the Sabres secured a 10-year extension of arena naming rights with KeyBank. During that announcement, owner and CEO Terry Pegula referenced a study by consulting firm Tripp Umbach detailing the venue’s economic significance. According to the study, KeyBank Center generated $694.2 million in economic impact in 2023, supporting jobs for 3,822 people and contributing $48.6 million in taxes.
“This arena is a cornerstone of the economy in Western New York,” Pegula said.
Since his appointment as COO in 2024, Guelli has emphasized KeyBank Center’s role in downtown development. Previously serving as COO of the Charlotte Hornets, he oversaw increased programming at Spectrum Center.
In the past year, KeyBank Center hosted about 140 events—up from its usual average of roughly 120—with plans to reach 200 events annually by diversifying entertainment offerings aimed at drawing various audiences to Buffalo’s Cobblestone District.
Last season saw privately funded upgrades including a new videoboard and roof installation led by Pegula; otherwise these would have been county expenses according to county executive Mark Poloncarz. Additional improvements this season feature a new audio system and updated security and concessions technologies.
The organization is beginning discussions on a long-term plan for further renovations and lease agreements, building on previous public-private partnerships such as those seen during construction of Highmark Stadium.
“We are excited to continue our mission to increase programming at KeyBank Center and fulfill the arena’s promise as an economic driver in Downtown Buffalo,” Guelli said.
