The KeyBank Center has been the heart of Buffalo’s downtown sports scene since it opened in 1996, serving as home ice for the NHL’s Buffalo Sabres and turf for the NLL’s Buffalo Bandits. But after nearly three decades of wear and tear, the building is starting to show its age-and the Sabres’ front office knows it.
Rather than push for a shiny new arena, the organization, led by owner Terry Pegula and COO Pete Guelli, appears to be leaning toward a major renovation of the existing venue. And they’re not just talking about it-they’re already moving pieces behind the scenes.
According to newly released documents, the Sabres have brought in lobbying firm Ostroff Associates to help advocate for state funding tied to potential renovations at KeyBank Center. That’s a clear signal: the team is preparing to make a formal pitch for public dollars to help modernize the facility.
“It certainly needs work-it’s 30 years old,” Guelli said. “I think it’s the oldest hockey building in the NHL yet to be renovated or at least have a major renovation, so it’s something we’re talking about.”
He’s not wrong. While other NHL arenas have undergone major facelifts or been replaced entirely, the KeyBank Center has largely remained untouched. And with the waterfront area just outside the arena becoming a bigger piece of Buffalo’s downtown development puzzle, Guelli hinted that the timing could be right to make a broader impact.
“There’s a lot of mind share in what needs to happen, particularly at the waterfront canal outside,” he added.
The early estimate for the renovations? Around $400 million, according to a report from WGRZ. That’s a hefty number, and with the Sabres turning to a lobbying firm, it’s clear the franchise is hoping to secure a significant chunk of that from state coffers.
But here’s where things get complicated.
Just a few years ago, the state of New York committed $600 million in public funds toward the construction of the new Highmark Stadium for the Buffalo Bills-also owned by the Pegula family. That deal sparked frustration across the state, especially among residents outside the Buffalo area who questioned the use of taxpayer dollars to fund a private NFL franchise’s new home.
Now, with the Pegulas potentially seeking more public money-this time for the Sabres’ arena-there’s a good chance they’ll face heightened scrutiny. After all, Terry Pegula’s estimated net worth is $9.3 billion, per Forbes. That kind of wealth tends to raise eyebrows when public funding requests come into play.
Governor Kathy Hochul, a Buffalo native, defended the state’s investment in the Bills’ new stadium back in 2022, citing job creation and the importance of keeping the team in town.
“People tend to like what’s in their area, not what’s outside their area,” Hochul said at the time. “But I feel it was a good deal for the taxpayers. We worked hard to get that accomplished, and as a result, the Buffalo Bills will be here and 10,000 jobs which were critically important to this region.”
That last part-“the Bills will be here”-wasn’t just a soundbite. The threat of relocation was very real in the NFL, where cities across the U.S. (and even internationally) are eager to land a franchise. The same urgency doesn’t quite exist at the NHL level, especially in a market like Buffalo, where the Sabres have one of the most passionate fan bases in the league, even as the playoff drought stretches into its 14th season.
So the Sabres’ pitch isn’t about keeping the team in town-it’s about keeping the city competitive as a destination for marquee events. NCAA March Madness games, the 2026 NHL Draft-those are the kinds of events that could hinge on whether Buffalo can offer a modern, state-of-the-art venue.
And the timing of this push isn’t lost on anyone. The Sabres are finally playing inspired hockey, surging back into the Eastern Conference playoff race with 16 wins in their last 20 games. It’s the best stretch the team has had in years, and it’s reigniting a fan base that’s been waiting a long time for a turnaround.
That momentum could help fuel the arena conversation. A winning team brings energy, and energy brings leverage.
The big question now is how much support the Sabres can rally from state and local leaders. With a $400 million price tag and recent history still fresh in everyone’s minds, the debate over public funding for the KeyBank Center renovations is just getting started.
But one thing is clear: if the Pegulas aren’t interested in building a new arena from the ground up, then the KeyBank Center is going to need a serious facelift-and soon.