San Jose Secures Sharks’ Future with Million-Dollar Deal
SAN JOSE, Calif. – The San Jose City Council unanimously approved a crucial agreement on Tuesday, guaranteeing the renovation of the Sharks’ stadium and the team’s stay in the city until the year 2051. Mayor Matt Mahan, along with the 10 council members, gave their approval to this strategic agreement that commits the city to invest $325 million in the modernization of the SAP Center, a venue with a 32-year history and municipal ownership. Team owner Hasso Plattner will contribute an additional $100 million. It should be noted that Plattner has already invested more than $100 million in stadium improvements over the last decade. The agreement includes a clause that will penalize the Sharks if they decide to leave the city before the contract expires, on June 30, 2051. In addition, the Sharks and the city of San Jose will begin planning for a new stadium starting in September 2027. The Sharks, who debuted as a franchise in 1991, settled into their arena in downtown San Jose in 1993.The Sharks are proud to have played in San José for over 30 years and look forward to enjoying 25 more years. While we have consistently invested our own funds to maintain the city-owned SAP Center, and intend to continue to do so, this partnership with the city of San José will bring much-needed renovations and improvements for stadium attendees, teams, and artists.
Jonathan Becher, Team President
