San Jose Mayor Matt Mahan said at a State of the City event on Saturday that the city and the San Jose Sharks are nearing a 25-year lease agreement.
Mahan told Mercury News that the city would heavily invest in the 32-year-old SAP Center after the new agreement is officially agreed upon via vote next month.
“Here in San Jose, we’ve had a hometown team that has helped put San Jose on the map for over 30 years,” Mahan said. “When the city council officially approves our new agreement, they’ll be here for at least 25 more.”
Sharks Sports and Entertainment president Jonathan Becher has told reporters that discussions with the city have been ongoing for an extended period. Becher spoke to the Mercury News following Saturday’s event.
“The things that matter the most are the things that fans don’t know or necessarily see every single day,” Becher said. “That’s where the big emphasis is, on making sure this building can survive and grow and thrive for its 25 years.”
While there wasn’t a significant risk of the San Jose Sharks being relocated, finalizing this 25-year agreement was critical.
The current deal, a fixed-term deal signed in 2015, had the Sharks playing their home games in San Jose through 2040. However, if a new agreement isn’t reached by July 1, 2025, San Jose could charge the Sharks more. The agreement would renew annually through 2040.
“In the last year and a half, with the newer City Council and Matt (Mahan) as the mayor, there’s been a focus on the things that actually matter to both sides,” Becher said. “And things have come together quite quickly over the last year, and this has been a win-win where everyone has been focused on one thing: how do we deliver world-class events. Not just hockey games, to a city for another 25 years, not just for the last 30.”
Becher said backup plans for relocating the San Jose Sharks were created in case negotiations with the city fell through. Sharks owner Hasso Plattner has never wanted to leave the area or the SAP Center.
Sharks fans can expect their NHL team to be around for the foreseeable future, with some renovations seemingly on the horizon.
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