REPORT: Sharks Close To Agreement To Stay at SAP Center Until 2050

The San Jose Sharks are close to an agreement to stay at SAP Center for the next 25 years. This will keep the Sharks at the city-owned downtown arena until 2050.

According to the Mercury News, the Sharks announced this coming lease agreement with the City of San Jose on Saturday at the State of the City event at Arena Green Park.

Mayor Matt Mahan told the newspaper that the city will make major investments in the arena, which opened in 1993, as part of the new lease.

“That’s where the big emphasis is, on making sure this building can survive and grow and thrive for its 25 years,” San Jose Sharks president Jonathan Becher told the Mercury News.

Mahan expects the agreement to be approved by city council during the summer.

The mayor is hoping to make SAP Center a hub of a downtown sports and entertainment district.

“Sharks, for the last 30 years, you’ve helped define San Jose’s identity,” Mahan said on Saturday. “I can’t wait to watch you continue to do so on and off the ice for the next 25.”