The conditions are certainly right for a relocation. No lease, an arena that is the worst in the league, and disappearing fans/crowds. The Sabres as a franchise have not been truly relevant in about 17 years, and those 2 seasons came out of lockout/bankruptcy situations. We are talking 2001 since the team ended a sustained run of playoff seasons. Nobody outside Buffalo would care, and probably support the move for a shiny new logo and branding.
With that said, I still do not believe Terry Pegula intends on selling us out like that. I also think the NHL would prefer expansion $ than a relocation fee.