Venue Detail
Buffalo Sabres
RSV Pro Facilities Report
March, 2013
Buffalo Sabres
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1 Seymore H Knox III Plaza Buffalo, NY 14203 Phone: 716-855-4100 Fax: 716-856-2104 URL: www.sabres.com Owner: Terry Pegula League: National Hockey League, Conference B
Venue
First Niagara Center, 1 Main St, Buffalo, NY 14203 Owner: Erie County and City of Buffalo Managed by: Centre Management Built: 1996 Capacity: 18,500 Permanent concession stands: 26 Concessionaire: Sportservice Suite caterer: Well Bread Catering Soft drink: Pepsi Cola Beer: Multiple
Naming rights
Sold to: First Niagara Term: 15 years Expires: 2026
Ticket prices
Season tickets range from $940 to $3,530 Single tickets range from $24.00 to $240.00
Attendance
2010 average attendance: 18,529 2011 average attendance: 18,452 2012 average attendance: 18,550
Suites
Quantity: 80 Term: 3 to 5 years Price: $70,500 to $160,000 Seats: 18 to 18 Includes: Tickets.
Club seats
Quantity: 2,500 Term: 1 to 1 years Price: $3,050 to $3,730 Includes: Tickets, parking, in-seat wait staff.
Financing
The $122 million arena was built with $67 million in private funds, $25 million from the state, $20 million from Erie County and $10 million from the city.
The arena is the home of the NHL Sabres. In addition to the 80 luxury suites there is also a party suite which holds up to 100 people and leases for $99 to $115 per person, depending upon the event.
Concession and signage revenue is shared between the Sabres and the building, but the Sabres would not disclose the percentage.
Erie County agreed to walk way from $100,000 in annual revenue and $300,000 in debt on the HSBC Arena as its part of a plan to keep the Buffalo Sabres in the venue. The county also gave up rights to any future building profits.
The concession allowed B. Thomas Golisano to buy the team. He offered the city $500,000 in annual rent and asked for forgiveness of $1.3 million in infrastructure expenditures already made by the city. The state was asked to forgive $25 million in arena construction costs. He sold the team to Pegula in 2011.
The team agreed to retain the current lease that keeps the them in the arena until 2026.
Naming rights were originally purchased by Marine Midland Bank for 20 years at $15 million. In 1999, the bank was renamed for its parent corporation, HSBC, and the company paid an additional $9 million for the renaming and an extension of the term by 10 years. The name was changed in 2011 when First Niagara took over the company.
As part of the county's original bid for the complex, it gave up ground rent on the arena, put $7 million into a new parking garage and subsidized arena operations with $1 million a year. The county also gave up a 0.25 percent seat tax on arena events. (Facilities, Financial, Ice Hockey, NHL, Professional Sports)