The San Jose City Council unanimously approved a deal to renovate the Sharks’ arena and keep the team in the city until 2051.
Mayor Matt Mahan and all 10 council members approved the agreement that commits the city to investing $325 million to upgrade the 32-year-old SAP Center. The city owns the arena.
Team owner Hasso Plattner will contribute an additional $100 million to the renovations.
Plattner has already invested more than $100 million on arena upgrades over the last decade.
The agreement includes penalties if the Sharks leave the city before the lease expires on June 30, 2051.
The Sharks and San Jose will also begin planning for a new arena by September 2027.
Team History in San Jose
The Sharks began as a franchise in 1991. They moved into their arena in downtown San Jose in 1993.
The team has called the SAP Center home for more than 30 years.
“The Sharks have been proud to play in San Jose for the last 30-plus years and look forward to another 25 more,” team president **Jonathan Becher** said. “While we have consistently invested our own funds to maintain the city-owned SAP Center and intend to continue doing so, this partnership with the City of San Jose will bring much-needed renovations and improvements for arena guests, the teams, and performers.”
The deal ensures the Sharks will remain in San Jose through at least 2051. That’s another 27 years of hockey in the South Bay.
The renovations will upgrade facilities for fans, players, and other performers who use the venue.
