New arena agreement will ‘keep the Sharks where they belong — in downtown San Jose’

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On Friday, Sharks owner Hasso Plattner made a significant move regarding the club’s future in San Jose, agreeing to a long-term lease extension at SAP Center that could potentially run through 2040.

From the club:

The Sharks have called SAP Center home since the building’s inception in 1993. The current lease agreement between the City and the Sharks, amended in 2001, runs through June 30, 2018. 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 Jose to keep the Sharks where they belong – in downtown San Jose,”Plattner said in a statement. “I love this arena and this is the only place we want to call home.”

Today’s announcement further cements SAP as the home for hockey in the Bay Area. Starting next season, the club’s relocated AHL affiliate — the San Jose Barracuda — will also play at SAP, becoming one of two American League teams to play in the exact same rinks that their NHL parents call home (the Manitoba Moose, Winnipeg’s recently-relocated AHL affiliate, will play at the MTS Center, just like the Jets.)

“This is a tremendous opportunity for our organization to amplify our player development program by providing our staff access to these players on a daily basis,” Sharks GM Doug Wilson said of the Barracuda move. “It’s also a chance for our fans to watch the growth of these prospects as players and see the ‘Future Sharks’ in action.”