Buffalo, N.Y. (WBEN) Take a deep breath Sabres fans. The future of KeyBank Center as the home of the Buffalo Sabres remains strong.
"I think alarmist is the right way to characterize it," Buffalo Bills and Sabres COO Pete Guelli told WBEN about the recent Headlines. "The Buffalo Sabres are not going anywhere and we're set to be here for a very long time."
Recent comments from Erie County Executive Mark Poloncarz about the county wanting to get out of the arena business have sparked concern among many Sabres fans. Guelli told WBEN that the team will meet with the County to talk about a lease extension over the summer.
"I think the point Mark was trying to make is that we want to sit down as a group, look at all the constituencies involved, and determine the best way to set this up long term," Guelli said.
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"The lease has a lot of optionality," said Guelli. "We're going ot be talking about an extension over the summer. But if we decide to sit tight where we are, there is an automatic opt in for another five years and the potential to run it out up to 18 years. So, it's not a concern... We're in a position where if we wanted to we could opt out. That's not our intention or something we're even considering."
The lease expires in 2026. The Sabres have until the end of September to decide to stay silent and stick with the current lease which would run out next year and then extend for another five years. Or, he said they could decide to opt out. But he added, "That's not our intention and nothing that we are considering."
Both Guelli and Poloncarz said they did not know where the reported $200 Million figure that appeared in many local news outlets for arena renovations came from because no specifics on improvements have been discussed.
Even if that were an accurate number, under the current lease it is the responsibility of the team owner to fund any renovations or improvements to the arena. Per the lease it was the Pegulas, not the County, that paid for recent improvements including the replacement of the roof and a new scoreboard.