The Buffalo Sabres' value increased by 24% over the past year, the sixth-largest growth by an NHL franchise in 2025, despite the longest playoff drought in league history.
CNBC's Michael Ozanian reported the outlet's annual team valuations on Tuesday, with the Sabres ranking 31st in the NHL at $1.42 billion. Only the Columbus Blue Jackets ($1.4 billion) have a lower estimated value.
Buffalo has an operating revenue of $176 million and the team's debt-to-value ratio is just 4%, which is tied for the seventh-lowest figure in the league, per CNBC's research.
All of those numbers represent a healthy bottom line for Sabres owner Terry Pegula, who purchased the NHL team for $189 million in 2011.
Based on CNBC's numbers, the Pegula Family has enjoyed a 651% increase in their investment over the past 14 years despite essentially zero on-ice success over that span.
Would Terry Pegula consider selling the NHL's Buffalo Sabres amid endless criticism?
The Sabres were already mired in a nine-year playoff drought when Pegula announced the organization was going to become more "effective, efficient and economic." Buffalo sports fans quickly came to learn those were code words for cheap.
After the Blue and Gold hired general manager Kevyn Adams, who was completely unqualified to lead an NHL front office, they also thinned out their scouting department, a double whammy that's caused far more misses than hits in the NHL Draft.
Meanwhile, the Sabres leave millions of dollars in unused salary-cap space on the table every season, a shortsighted cost-cutting measure. They'd be better off spending the additional money in salaries attempting to secure a playoff berth that would lead to massive postseason revenues.
The lack of financial commitment into the franchise relative to other NHL owners combined with the team's virtually nonexistent success during his ownership tenure has led to a lot of criticism, much of it richly deserved.
It's raised questions about whether Pegula, who also owns the NFL's Buffalo Bills and NLL's Buffalo Bandits, would consider cashing out on the Sabres.
So far, there's been no public indication it's something under consideration, but dealing with the endless critiques related to the Sabres may eventually become not worth the headache for the 74-year-old Pennsylvania-born billionaire.
The Bills are perennial Super Bowl contenders, though this season's results haven't lived up to expectations so far, and the Bandits are the three-time defending NLL champions.
In turn, Pegula could maintain his sports ownership with far more successful organizations — it's unclear whether a new Sabres owner would want the Bandits, who also play in the KeyBank Center, included in the deal — and cash out after a significant financial gain on the NHL team.
Again, it's merely speculative analysis on the situation and Pegula may prefer to keep all of the teams in the family and let his children decide how to move forward. His daughter, Laura Pegula, has already represented the Bills and Sabres at NFL and NHL meetings.
Meanwhile, while Sabres fans would surely welcome an owner who'd be willing to spend every penny possible to build a winning franchise, a sale to an individual or group without direct ties to Western New York would, at minimum, spark short-term relocation fears.
Keeping the team in Buffalo is obviously the highest priority, but making the playoffs at least once a decade would be nice, too.