Budd was honoured in 1985 by the NHL Broadcasters Association with the Foster Hewitt Memorial Award at the Hockey Hall of Fame and was enshrined nine years later in the Michigan Sports Hall of Fame.
En 1985, l'Association des radiodiffuseurs de la LNH a rendu hommage à Budd en lui décernant le Foster Hewitt Memorial Award au Temple de la renommée du hockey.