(Originally published at Sports Radio Service)
Friday, the San Jose Sharks and the San José Mayor Sam Liccardo announced a lease extension through 2025, with annual renewals possible through 2040.
From the Sharks press release:
The newly-negotiated extension states that Sharks Sports & Entertainment will continue to manage and operate the City-owned SAP Center and that the Sharks will play their home games at the facility on a fixed-term through 2025 – ten calendar years from today’s date. Beginning in 2026, the lease will renew on an annual basis through the year 2040.
“I am very pleased that we have been able to reach an agreement with the City of San José to keep the Sharks where they belong – in downtown San José,” said Sharks Sports & Entertainment Majority Owner Hasso Plattner. “I love this arena and this is the only place we want to call home. I want to thank Mayor Liccardo and the City Council for their support throughout these discussions. Our fans are what truly make SAP Center a special place – the best home-ice advantage in hockey – and we’re excited that the Sharks will remain here long term.”
“Since its opening two decades ago as the home of the San Jose Sharks, the SAP Center has consistently ranked amongst the busiest indoor sports and entertainment facilities in the country,” said San Jose Mayor Sam Liccardo. “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. We thank Sharks Sports & Entertainment for their commitment to San José and for the significant investments and contributions that it makes in the community.”
Though it has had a few names over the years, the Sharks have called SAP Center home since it opened in 1993.
The Mayor and City Council will discuss the terms of the agreement in a public hearing on May 19 in the San José City Council Chambers.