As crucial date looms, Sharks talks for new SAP Center lease takes a turn

SAN JOSE With an vital lease date looming the president of the San Jose Sharks is now confident his organization and the City of San Jose will be able to finalize a new agreement to keep the NHL club at SAP Center for several more years Jonathan Becher who heads Sharks Sports Entertainment announced negotiations on an updated lease agreement between the company and city leaders for the -year-old downtown arena have progressed well in new months and that a new deal is well within reach We re way past being pessimistic or cautiously optimistic We will get something done Becher notified this news organization Cities move slowly That s just how life is But I would be surprised if we don t work something out eventually The agreement the Sharks and the city reached in called for the gang to play its home games at the facility on a fixed term through July with the lease renewing annually through thereafter Without a new deal the city could potentially charge the Sharks more each year to lease the facility which has been the group s home since However with the terms of the present deal nearing a new phase the Sharks required the city to contribute to the cost of non-revenue-generating upgrades to SAP Center now one of the NHL s oldest buildings There is more than million in deferred maintenance that has nothing to do with revenue Becher mentioned in October The city should pay for at least a few of that Becher explained last year that if lease negotiations went well the new agreement would be expected to last beyond San Jose faces a projected budget shortfall of million this year and million in but could soon benefit economically next year with at least three major sporting events coming to the South Bay Levi s Stadium in Santa Clara will host Super Bowl LX in February and FIFA World Cup matches in June and July SAP Center will host the NCAA Men s Basketball Tournament s West Regional games in March Mayor Matt Mahan s long-term goal is to create a downtown sports and entertainment district and expand the convention center so that the city can host more key events In a comment provided to this news organization Mahan stated The Sharks have inevitably fought hard for San Jos and we re fighting just as hard to keep them here We re in ongoing discussions on a new lease agreement and I m confident we ll find a path forward that keeps the Sharks in San Jos s waters Becher reported SS E had contingency plans for a new home rink in situation negotiations with the city on a new lease agreement at SAP Center fell through However the organization consistently strongly preferred to remain at the arena long dubbed the Shark Tank which has a seating limit of for hockey Related Articles Which ex-Sharks participant will win the Stanley Cup Here are everyone s odds San Jose Barracuda to face rival as AHL reveals first-round playoff schedule How can the Sharks improve Grier talks priorities maybe trading top pick Does this winger want to return to the Sharks Not if it s like this year Can Jimmy Butler fuel a Warriors playoff run like prior midseason acquisitions for Bay Area teams Becher mentioned he and Mahan have spent a lot of time talking to each other and we have a very good relationship with his office The Sharks had a - - record this season marking the second straight year they ve finished at the bottom of the NHL standings and the sixth straight season they ve missed the playoffs Still the Sharks average paid attendance for the crew s home games this past season rose slightly up from or of ceiling last year to or of maximum Those figures are still well short of pre-pandemic levels as the Sharks averaged at least fans per meeting from - to - San Jose only missed the playoffs twice in that span