San Jose Sharks Extend Lease At SAP Center Through 2025
SAN JOSE (CBS SF) – The San Jose Sharks will continue to call the SAP Center home for many more years to come, team officials said Friday.
The hockey team announced Friday they've reached an agreement with the city of San Jose to extend their lease, potentially through 2040.
San Jose Mayor Sam Liccardo is set to discuss the terms of the agreement, along with the City Council, at a public hearing on May 19.
The Sharks have been at the SAP Center, also known as the Shark Tank, since it first opened in 1993. The current lease agreement between the city and the Sharks, amended in 2001, runs through June 30, 2018, team officials said.
According to the new deal, Sharks Sports and Entertainment will continue to manage and operate the city-owned SAP Center, with the Sharks playing their home games at the facility on a fixed-term through 2025. Then, beginning in 2026, the lease will renew on an annual basis through the year 2040, team officials said.
"I am very pleased that we have been able to reach an agreement with the city of San Jose to keep the Sharks where they belong—in downtown San Jose," Sharks Sports and Entertainment Majority Owner, Hasso Plattner said in a statement. "I love this arena and this is the only place we want to call home."
"Since its opening two decades ago as the home of San Jose Sharks, the SAP Center has consistently ranked amongst the busiest indoor sports and entertainment facilities in the country," San Jose Mayor Sam Liccardo said in statement.
"The Sharks are a major tenant to our downtown, generating millions in economic development for our city and their success is paramount as we plan for the future," Liccardo said.
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