San Jose Sharks Home the HP Pavilion to be Renamed SAP Center
By iSportconnect | June 7, 2013
The San Jose Sharks home stadium the HP Pavilion will be renamed the SAP Center after city officials finalised a deal with the German software giant.
SAP owner Hasso Plattner is also a majority owner of the National Hockey League (NHL) team.
A City Council vote is expected to be scheduled for June 18 at a committee meeting and Mayoral spokeswoman Michell McGurk said: “All the pieces of the deal have been reached.”
The deal for the naming rights of the stadium the fans call the Shark Tank, is reportedly a five-year deal, where the city would receive $1.675m annually.
HP currently pay $3.25m a year for the naming rights through 2015. San Jose which owns the arena and the Sharks split the proceeds.
“My understanding is it’s pretty much the same as what the deal has been with HP, just a different name and continuing it a couple additional years,” McGurk said