The Sabres, along with the Vancouver Canucks, joined the NHL in the 1970–71 season. Their first owners were Seymour Knox III and Northrup Knox, scions of a family long prominent in Western New York. Buffalo had long been a hotbed for hockey. The Buffalo Bisons had been one of the pillars of the American Hockey League (AHL), winning the Calder Cup in their final season.

Wanting a different name other than "bison" that was so common among Buffalo sports teams, the Knoxes immediately commissioned a name-the-team contest. The winning choice, "Sabres", was chosen because Seymour Knox felt a sabre was a weapon carried by a leader. He also noted that a sabre is swift and strong on offense as well as defense. The Knoxes had tried twice before to get an NHL team, first when the NHL expanded in 1967, and then unsuccessfully attempting to buy the Oakland Seals with the intent of moving them to Buffalo. At the time of their creation, the Sabres exercised their option to create their own AHL farm team, the Cincinnati Swords.