According to the Mercury News, the San Jose Sharks are close to finalizing a new agreement with SAP that would keep the team playing at SAP Center through 2050.

Sharks president Jonathan Becher spoke with Mercury News and shared how important and exciting this deal is for the organization.

“That’s where the big emphasis is, on making sure this building can survive and grow and thrive for its 25 years,” Becher said.

San Jose Mayor Matt Mahan also announced that the city plans to invest in the arena as part of the new lease. He expects the agreement to be approved by city council this summer.

Mahan spoke about the impact the Sharks have had — and will continue to have — on the city.

“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.”

This is a major announcement for both the city and the franchise. It ensures the Sharks will stay at SAP Center long-term while continuing to grow the game of hockey in San Jose.

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San Jose Sharks Reportedly Close To New SAP Arena Agreement