Sharks agree to long-term lease extension at SAP Center

The San Jose Sharks may be staying put for a very long time.

The team announced Friday that they have agreed to a long-term extension to stay at their current home at the SAP Center.

From the team:

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.

Team owner Hasso Plattner issued a statement to the media, showing his enthusiasm for the move.

"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. "I love this arena and this is the only place we want to call home."

The Sharks have called the arena - more popularly known as the Shark Tank - its home since the building’s inception in 1993.