Per The Athletic Sabres Season Tickets Sales are estimated at less than 6,500

[K-9]

8 minutes ago, Let's Go B-Lo said:

Fair enough, they have to buy something or stop being an operating concern. As you said, it's publicly traded so Terry already got a bunch of his own money out in that process. It's not that difficult to buy something and if they don't and dissolve that's not the same as going bankrupt. It means they have investor capital they never spent which is the opposite thing of being broke.

 Never meant to imply Pegula would go broke 😂, just that there’s a limit, even for billionaires. And the Sabres are a losing venture, especially since the pandemic. 

[That Aud Smell]

1 hour ago, K-9 said:

I hate to say it, but we may be on course to lose this team.

If Pegula’s recent bet on the North American energy sector doesn’t pan out by next summer, his East Resources Acquisition Company must dissolve and liquidate. Now I won’t pretend to know the potential impact that might have on Pegula’s finances, but it seems ominous to me. 

Let's pump the brakes on that. That venture he put together had/has very little downside for him. If that deal doesn't close, it won't be much more than a blip on the radar for a guy whose net worth reportedly rose from 5.4 to 5.7 billion dollars in the course of the last few months.

42 minutes ago, K-9 said:

And yet, in the midst of all that positive economic news, his company has yet to make the legally required acquisition(s). He has until July 1 to get that done.

With respect, I think you're under-informed on what the nature of that venture is.

29 minutes ago, nfreeman said:

OK, but that is a common occurrence with that type of company.  If it happens, the investors lose their transaction costs, but not the bulk of their investments -- that money has been sitting in a trust account and is returned to the investors.  His losses would be minimal and a million miles away from a level where he'd need to sell the Sabres.

Yeah - this isn't a proverbial pimple on his buttocks (eww) - but it's close.

[PerreaultForever]

Why would anyone pay to see this???  I question the sanity of anyone still buying a ticket for this (unless they are a fan of the opposition). Surely there is something better to do in Buffalo.

Tickets are only one thing, I have to imagine merch sales will be at an all time low. 

The main face on sales ads is Dylan Cozens, and while I like the guy and think he can be great, at this point he hasn't even really proved he's a full time NHLer. He should be, and he should be great, but the face of the franchise? Come on man. 

[\GoBillsInDallas/]

 

[Gatorman0519]

10 minutes ago, PerreaultForever said:

Why would anyone pay to see this???  I question the sanity of anyone still buying a ticket for this (unless they are a fan of the opposition). Surely there is something better to do in Buffalo.

Tickets are only one thing, I have to imagine merch sales will be at an all time low. 

The main face on sales ads is Dylan Cozens, and while I like the guy and think he can be great, at this point he hasn't even really proved he's a full time NHLer. He should be, and he should be great, but the face of the franchise? Come on man. 

Agreed. They will eventually get a decent prospect for Eichel. Add that we will have a shot at some star power in the draft next year and add Power.  Realistically we are 3-4 years away from being competitive again.  Need time for all these kids to develop plus find a franchise goalie.

[K-9]

32 minutes ago, That Aud Smell said:

Let's pump the brakes on that. That venture he put together had/has very little downside for him. If that deal doesn't close, it won't be much more than a blip on the radar for a guy whose net worth reportedly rose from 5.4 to 5.7 billion dollars in the course of the last few months.

With respect, I think you're under-informed on what the nature of that venture is.

Yeah - this isn't a proverbial pimple on his buttocks (eww) - but it's close.

Brakes were pumped several posts ago. It’s more of a concern about his willingness to keep losing money on multiple ventures. That’s all. No big deal. If he’s ok with it, I’m certainly ok with it.

PSE certainly implemented some austerity measures last year and, while they’ve since re-tooled some ops, I think that speaks a little towards their unwillingness to just simply sit back and just continue to throw good money after bad. 

If I’m less informed, please feel free to expand on the details then. I only took a cursory dive into the issue. I’d love to learn more about these blank check companies, so feel free to edify. I’m always willing to learn. 

[Gatorman0519]

22 minutes ago, \GoBillsInDallas/ said:

 

What an incredible indictment of the state of this franchise.  Fans vote with their feet.  They see right through the smoke screens and propaganda and can tell when they are being lied to. This is going to be eye opening for a lot of people.  Unless a miracle happens and they are entertaining, Terry has lost the fanbase, and in spectacular fashion. 

[Taro T]

11 minutes ago, Gatorman0519 said:

What an incredible indictment of the state of this franchise.  Fans vote with their feet.  They see right through the smoke screens and propaganda and can tell when they are being lied to. This is going to be eye opening for a lot of people.  Unless a miracle happens and they are entertaining, Terry has lost the fanbase, and in spectacular fashion. 

2 things:

1.  Preseason games are always poorly attended (typically not THIS poorly, but they are always poorly attended).

2. The vast majority of Canadian ticket buying fans are not coming this year due to border restrictions. 

Those 2 items combined with a historically bad team will result in historically bad attendance.  But, that isn't likely a permanent thing.

The ST base will likely bump back by ~7-8,000 seats next year.  Between Canadians being back, people that bought 1/2 & 1/4 seasons going back to full seasons, & NOT expecting a 30th-ish finish (dear Lord, please let that last 1 be true), the fans will come back.

3 years from now, attendance will be to normal levels.  IMHO.

[That Aud Smell]

21 minutes ago, K-9 said:

Brakes were pumped several posts ago. It’s more of a concern about his willingness to keep losing money on multiple ventures. That’s all. No big deal. If he’s ok with it, I’m certainly ok with it.

Fair deuce.

Your initial post on the topic led off with a prediction that, given the apparent state of the Pegulas' finances, Buffalo may be on its way to losing the Sabres franchise. That was a bit like yelling "fire" in a crowded theatre based on getting a whiff of cigarette smoke from the men's lavatory.

[K-9]

7 minutes ago, That Aud Smell said:

Fair deuce.

Your initial post on the topic led off with a prediction that, given the apparent state of the Pegulas' finances, Buffalo may be on its way to losing the Sabres franchise. That was a bit like yelling "fire" in a crowded theatre based on getting a whiff of cigarette smoke from the men's lavatory.

Guess I better watch how I parse my language moving forward then. 

[sabremike]

10 minutes ago, Taro T said:

2 things:

1.  Preseason games are always poorly attended (typically not THIS poorly, but they are always poorly attended).

2. The vast majority of Canadian ticket buying fans are not coming this year due to border restrictions. 

Those 2 items combined with a historically bad team will result in historically bad attendance.  But, that isn't likely a permanent thing.

The ST base will likely bump back by ~7-8,000 seats next year.  Between Canadians being back, people that bought 1/2 & 1/4 seasons going back to full seasons, & NOT expecting a 30th-ish finish (dear Lord, please let that last 1 be true), the fans will come back.

3 years from now, attendance will be to normal levels.  IMHO.

I'm sure after the team wins 13 games this season and drafts Brad Lambert with the 3rd overall pick ticket sales will go through the roof. Your post is essentially a text version of the This Is Fine Dog meme. People have reached the point of just giving up and thinking it will magically go back to the way it was unless something drastic happens are just kidding themselves.

[nucci]

3 minutes ago, sabremike said:

I'm sure after the team wins 13 games this season and drafts Brad Lambert with the 3rd overall pick ticket sales will go through the roof. Your post is essentially a text version of the This Is Fine Dog meme. People have reached the point of just giving up and thinking it will magically go back to the way it was unless something drastic happens are just kidding themselves.

every year it's always..."in 2-3 years"

[SabresVet]

 

2 hours ago, Taro T said:

He has a ton of cash coming In from the Bills & though cash flow directly from the Sabres isn't good, the new US TV contracts & the fact that the Sabres have 1 of the lowest salaries in the league helps to offset a fraction of the ticket sale reductions (which are partially offset by still holding onto Canadian ticket holders' money from 1-1/2 years ago), & significant reductions from concessions & merchandise sales.

The Pegula's took a decent hit on the Bills last year when fans largely could not attend regular season games.  Same went for the Sabres, who IIRC, did not offer tickets until March and even then it was quite limited.  Combined with the financial reality that the Sabres, who were already losing 40-60M per before the virus.     

The upside is they can cry poor when proposing a renovation of the Key Bank Arena.  I really don't have much sympathy for them at this point.  Decisions made long ago have put the Sabres in this predicament and fans are finally voting with their wallets.    

[Taro T]

18 minutes ago, sabremike said:

I'm sure after the team wins 13 games this season and drafts Brad Lambert with the 3rd overall pick ticket sales will go through the roof. Your post is essentially a text version of the This Is Fine Dog meme. People have reached the point of just giving up and thinking it will magically go back to the way it was unless something drastic happens are just kidding themselves.

The ticket sales will go up simply from having access to the 1/2 of there fanbase that is barred from attending.  Said fanbase which has already paid from between 20-50% of the price for next year's tix already.

And you honestly expect this team to only win 13 friggin' games?  That puts them in the company of the '74-'75 Caps & a handful of other absolutely God awful squads.  These guys are NOT good.  But they'll be around 70 points and 30th place.

[nfreeman]

I think the broader point is that attendance will be lousy until the team shows signs of life, at which point it will rebound pretty strongly.  In the meantime the low attendance will cost TP quite a bit of cash, but not enough to cause him a problem.

[Crusader1969]

6,500 poor souls.

I cant imagine the resale value of tickets on StubHub   They wont be able to give their tickets away without Canadians coming to the game to cheer for the opponents.

 

 

[LabattBlue]

1 hour ago, SabresVet said:

 

The Pegula's took a decent hit on the Bills last year when fans largely could not attend regular season games.  Same went for the Sabres, who IIRC, did not offer tickets until March and even then it was quite limited.  Combined with the financial reality that the Sabres, who were already losing 40-60M per before the virus.     

The upside is they can cry poor when proposing a renovation of the Key Bank Arena.  I really don't have much sympathy for them at this point.  Decisions made long ago have put the Sabres in this predicament and fans are finally voting with their wallets.    

The Sabres were losing 40-60 mil per season prior to Covid?  I doubt that unless Mr and Mrs Moneybags are using some form of creative accounting. 

[nucci]

I feel bad for these kids...playing in front of these crowds. Not fair to them

[tom webster]

A little perspective, while the Sabres are in obviously worse shape then most, I talked to someone at league offices today that told me several teams are dealing with a significant drop in season ticket sales. On top of that, just read a tweet from a Pittsburgh reporter who said today’s announcement regarding season ticket packages in Pittsburgh was the first time he ever heard an in arena announcement.

[\GoBillsInDallas/]

https://www.stubhub.com/buffalo-sabres-buffalo-tickets-10-9-2021/event/104910257/

 

[SabresBillsFan]

Do you blame the fans. This organization has to get their ***** together!

[LabattBlue]

33 minutes ago, tom webster said:

A little perspective, while the Sabres are in obviously worse shape then most, I talked to someone at league offices today that told me several teams are dealing with a significant drop in season ticket sales. On top of that, just read a tweet from a Pittsburgh reporter who said today’s announcement regarding season ticket packages in Pittsburgh was the first time he ever heard an in arena announcement.

*****$burgh fans spoiled rotten. Bunch of hosers. 😂

[That Aud Smell]

6 hours ago, K-9 said:

Guess I better watch how I parse my language moving forward then. 

Not the point I was making a’tall, but, sure, go off.

[CallawaySabres]

I won't even watch the NHL this season. The Sabres have made me hate following the sport. A very sad state in Buffalo for sure.

[jahnyc]

I wouldn't worry about Pegula's SPAC not finding a target company and dissolving, or the economic consequences to the Pegula family if the SPAC does not find a target company.  Most SPACs eventually find a target company to combine with prior to the drop dead date and SPACs also can extend the time to find a business combination target company if they contribute additional funds to the trust account.  Pegula would only lose the at risk money put up in connection with the IPO (typically to purchase warrants) and have an obligation to pay certain expenses (such as legal fees) if the SPAC is unsuccessful in finding a target company.  This would not be a material loss for the Pegula family.