Actions Related to the Agreement with San José Arena Management, LLC for SAP Center at San José, Sharks Ice, LLC for Sharks Ice at San José and Tech CU Arena, and Memorandum of Understanding with Sharks Sports & Entertainment and Associated Agreements.
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This memorandum outlines actions related to agreements with San Jose Arena Management, LLC for the SAP Center and Sharks Ice, LLC for Sharks Ice at San Jose and Tech CU Arena. It includes recommendations for approving a Third Amended and Restated Arena Management Agreement, a Memorandum of Understanding for future arena planning, and various property agreements. The SAP Center is set for a $425 million renovation to extend its operational life and modernize facilities, ensuring compliance with NHL standards and improving the fan experience. The Sharks organization is highlighted as a significant economic contributor to San José.
Key points
The memorandum recommends approving a Third Amended and Restated Arena Management Agreement with San Jose Arena Management, LLC.
A Memorandum of Understanding is proposed to outline future arena planning and negotiations.
The SAP Center will undergo a $425 million renovation, with funding contributions from both the City and the Sharks.
The renovation aims to modernize the facility, improve compliance with NHL standards, and enhance the fan experience.
The Sharks organization contributes significantly to the local economy, generating substantial visitor spending and supporting local jobs.
Limitations
The document contains unresolved placeholders and incomplete sections, particularly in the renovation details and agreements.
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COUNCIL AGENDA: FILE: ITEM: TO: HONORABLE MAYOR AND CITY COUNCIL SUBJECT: See Below Approved 8/26/25 25-909 8.2 FROM: Lee Wilcox DATE: August 8, 2025 Date: 8/15/25 COUNCIL DISTRICT: 6 SUBJECT: Actions Related to the Agreement with San Jose Arena Management, LLC for SAP Center at San Jose, Sharks Ice, LLC for Sharks Ice at San Jose and Tech CU Arena, and Memorandum of Understanding with Sharks Sports & Entertainment and Associated Agreements RECOMMENDATION (a) Approve the Third Amended and Restated Arena Management Agreement between the City of San José and San Jose Arena Management, LLC, for the property commonly known as SAP Center located at 525 W. Santa Clara Street, in San José, California, the term of which extends through June 30, 2051, including all attachments and ancillary documents contained in that agreement and subject to the terms contained therein. (b) Approve the Memorandum of Understanding related to the Arena District Agreement, prescribing an evaluation and negotiation period from execution of the proposed Arena Management Agreement through March 31, 2027, with a defined goal of identifying a Future Arena Location and executing an Arena District Agreement for...
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Memorandum from Mayor, Foley, Kamei, Tordillos & Mulcahy, 8/22/25
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This memorandum from the Mayor and several Councilmembers addresses actions related to the SAP Center, Sharks Ice, and the Future Arena District Agreement. It recommends approving a staff proposal concerning agreements with San Jose Arena Management, Sharks Ice, and Sharks Sports & Entertainment. The memorandum highlights the historical significance of the SAP Center, its current limitations, and the projected economic impact of Sharks Sports and Entertainment on San José's economy.
Key points
The SAP Center opened in 1993 and is the NHL's oldest active arena without major renovations.
The arena's outdated facilities limit its ability to attract top-tier entertainment and hinder player recruitment.
Sharks Sports and Entertainment is projected to generate over $1.25 billion in economic impact in the next five years.
The Sharks contribute to San José's cultural identity and economic vitality.
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Extracted text preview · 2,324 chars
COUNCIL AGENDA: 08/26/2025 FILE: 25-909 ITEM: 8.2 TO: CITY COUNCIL SUBJECT: SEE BELOW FROM: Mayor Matt Mahan Vice Mayor Pam Foley Councilmember Kamei Councilmember Tordillos Councilmember Mulcahy DATE: August 22, 2025 Approved: SUBJECT: Actions Related to SAP Center, Sharks Ice, and Future Arena District Agreement RECOMMENDATION Approve staff’s recommendation related to the Agreement with San Jose Arena Management, LLC for SAP Center at San Jose, Sharks Ice, LLC for Sharks Ice at San Jose and Tech CU Arena, and Memorandum of Understanding with Sharks Sports & Entertainment and Associated Agreements BACKGROUND The City opened the SAP Center in 1993 as the home of the San Jose Sharks, and since then the arena has hosted professional sports, concerts, and national events. Now 32 years old, it is the NHL’s oldest active arena without major renovations. The Sharks have maintained the facility to a high standard, but the arena no longer meets NHL requirements. Outdated back-of-house areas and aging systems limit attracting top tier entertainment talent, hinder player recruitment, diminish the fan experience, and weaken competitiveness against newer venues. Sharks Ice and Tech CU Arena...
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The source text indicates this attachment appears to be a draft document.
This document is a draft of the Third Amended and Restated Arena Management Agreement between the City of San Jose and San Jose Arena Management, LLC, effective July 1, 2025. It outlines the relationship between the parties, the use of the arena by sports teams, economic terms, operating expenses, revenues, taxes, and various operational and management responsibilities.
Key points
The agreement is between the City of San Jose and San Jose Arena Management, LLC.
The effective date of the agreement is July 1, 2025.
It includes sections on the relationship of the parties, authority, guarantees, use of the arena, economic terms, operating expenses, and revenues.
The document is marked as a draft and advises contacting the Office of the City Clerk for the final document.
Limitations
The document is a draft and may not contain finalized terms.
Specific details such as dates, votes, dollar amounts, and outcomes are not provided.
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Extracted text preview · 1,000,823 chars
THIRD AMENDED AND RESTATED ARENA MANAGEMENT AGREEMENT BY AND BETWEEN THE CITY OF SAN JOSE AND SAN JOSE ARENA MANAGEMENT, LLC EFFECTIVE DATE: JULY 1, 2025 DRAFT--Contact the Office of the City Clerk at (408) 535-1260 or CityClerk@sanjoseca.gov for final document. THIRD AMENDED AND RESTATED ARENA MANAGEMENT AGREEMENT TABLE OF CONTENTS RECITALS PART ONE – RELATIONSHIP OF THE PARTIES SECTION 1 – GENERAL EFFECT OF AGREEMENT 1 5 5 1.1 – Recitals 5 1.2 – Effective Date and Execution Date 5 1.3 – Prior Agreements 5 1.4 – Related Agreements 5 1.5 – Defined Terms 5 1.6 – Section References 5 1.7 - Memorandum of Agreement SECTION 2 – AUTHORITY, GUARANTY AND ASSIGNMENT 2.1 – Parties and Delegation of Authority 5 6 6 2.1.1 – Definitions 6 2.1.2 – Role of Arena Authority 7 2.1.3 – Delegation of Authority by City 2.1.4 – Delegation of Authority by Manager 2.2 – Guarantees by SSE and SJS LLC 7 8 8 2.3 – Assignment by Manager 8 2.3.1 – Requirements for Assignment 8 2.3.2 – City Approval of Assignee 8 2.3.3 – Form of Assignment 9 2.3.4 – Permitted Transfers 9 2.3.5 – Hypothecation by Secured Party 10 SECTION 3 – USE OF ARENA BY SPORTS TEAMS 10 3.1 – San Jose Sharks 10 3.1.1 – Definitions 10 3.1.2...
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The source text indicates this attachment appears to be a draft document.
This Memorandum of Understanding (MOU) is between the City of San Jose and San Jose Arena Management, LLC regarding the development of a future arena project and an entertainment district. The MOU outlines the terms for negotiations to establish a new arena location and related facilities, with a goal to have the new arena ready by 2051. The MOU includes provisions for the negotiation period, requirements for the future arena location, and the potential development of an arena district. It also discusses the roles of consultants, governmental requirements, and the timeline for site selection and agreement execution.
Key points
The MOU is between the City of San Jose and San Jose Arena Management, LLC.
The effective date of the MOU is July 1, 2025.
The MOU aims to establish a new arena location and an entertainment district by 2051.
The negotiation period is approximately 19 months, from September 1, 2025, to March 31, 2027.
The future arena location is anticipated to be approximately 12+ acres of land owned or controlled by the City.
The City commits not to encumber or develop the initial controlled properties during the negotiation period.
Consultants may be retained to assist with site analysis, economic development, and signage programs.
The Arena District Agreement is to be executed by September 1, 2027, subject to City Council approval.
Limitations
The text appears to be a draft, as indicated by the repeated mention of 'DRAFT' and instructions to contact the City Clerk for the final document.
Some sections of the text are truncated, leading to incomplete information regarding the timeline and schedule of performance.
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MEMORANDUM OF UNDERSTANDING REGARDING A FUTURE ARENA PROJECT AND NEW ARENA DISTRICT This MEMORANDUM OF UNDERSTANDING (“MOU”) is entered into by the CITY OF SAN JOSE, a California municipal corporation (“City”) and SAN JOSE ARENA MANAGEMENT, LLC, a Delaware limited liability company (“Manager”) as of July 1, 2025 (the “Effective Date”). City and Manager are referred to in this MOU individually as a “Party” and collectively as the “Parties.” RECITALS A. Since September 1993, Manager and its predecessors-in-interest have been managing and operating a regional multi-purpose sports and entertainment arena and related facilities currently known as SAP Center (collectively, “Existing Arena Facilities”). Such facilities, which are owned by City and leased to Manager for use as a major public assembly facility, have proven to be an important economic generator for City. In addition to home games for the San Jose Sharks hockey team, the SAP Center hosts numerous other sporting events, concerts, family shows, and other productions that together draw hundreds of thousands of visitors to downtown San Jose every year. B. City and Manager are parties to a Third Amended and Restated Arena...
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The document outlines the Third Amended Arena Management Agreement and related agreements for the SAP Center, home to the San Jose Sharks. It includes recommended actions for approval, financial contributions from both the City and the Sharks, and details about the planned renovations and future agreements. The Sharks are committed to a significant renovation and operational responsibilities through 2051.
Key points
Approval of the Third Amended and Restated Arena Management Agreement between the City and the Sharks for SAP Center use through June 30, 2051.
City to negotiate an updated lease for the Ice Centre and a property use agreement for employee parking.
Sharks to perform a $425 million renovation with a net City contribution of $325 million.
City expects to bond for $350 million, with financing options including commercial paper and increased taxes.
Renovations planned over 7 years to meet updated codes and enhance facilities.
Arena District Memorandum of Understanding anticipates a new arena by 2051.
Various related agreements are outlined, including leases and operational procedures.
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SAP Center Modernization Third Amended Arena Management Agreement and Related Agreements August 26, 2025 Item 8.2 Lee Wilcox Assistant City Manager Kevin Ice Assistant to the City Manager, Director of Real Estate Office of Economic Development and Cultural Affairs Cameron Day Senior Deputy City Attorney Recommended Actions • Approve the Third Amended and Restated Arena Management Agreement between the City and the Sharks for use of the SAP Center through June 30, 2051. • Approve the Arena District Memorandum of Understanding. • Authorize City Manager to negotiate and execute: • Updated lease between the City and the Sharks for the use of the Ice Centre, including Sharks Ice and Tech CU Arena through 2051. • A property use agreement between the City and Sharks for employee parking and storage on property located along Sharks Way between N Autumn Street and N Montgomery Street. • A five-year option agreement to acquire APN 259-29-004 for a price of $1,226,030, subject to annual consumer price index inflation. • All other ancillary documents, exhibits, and technical revisions as may be necessary. 3 SAP Center • SAP Center has been home to San Jose Sharks since it opened in 1993. •...
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The San Jose Downtown Association expresses strong support for the agreement between the City of San Jose and San Jose Arena Management aimed at upgrading the SAP Center and retaining the Sharks. The letter highlights the Arena's significant economic impact, attracting over 50 million visitors and generating 1.25 billion dollars in benefits over five years. The Sharks' unique position of not owning their facility and the substantial investments made by Hasso are noted. The letter also emphasizes the importance of investing in major venues for the city's profile and economic impact, urging unanimous support from the City Council.
Key points
Support for the agreement between the City of San Jose and San Jose Arena Management.
The SAP Center has attracted over 50 million visitors and generated 1.25 billion dollars in economic benefits.
The Arena hosts at least 150 events a year and is crucial for attracting world-class talent.
Hasso's investment of 100 million over the past 10 years and a commitment to invest another 100 million is highlighted.
Comparison with neighboring cities emphasizes the importance of investing in major venues.
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San Jose Downtown Association 28 N. First Street, Suite 1000 San Jose, CA 95113 sjdowntown.com 408.279.1775 Dear Honorable Mayor and City Councilmembers, On behalf of the San Jose Downtown Association, I am writing to express our strong support for the agreement negotiated between the City of San Jose and San Jose Arena Management, with the goal of upgrading our venerable SAP Center and keeping the Sharks in San Jose. Statistically it has been shown that the Arena has attracted more than 50 million visitors to San Jose since opening, many from out of the area, and has generated 1.25 billion dollars in economic benefits for the city over the last five years. The Arena is more than a hockey arena with at least 150 events a year, and investment is critical to attracting top tier world class talent to San Jose in our mission to make this a true world class destination. In reviewing with my team of experts on our advocacy committee which represents all manners of Downtown stakeholders including businesses, landlords and residents that the negotiated deal was noted to be remarkable in its language and structure. The Sharks are one of the few major sports organizations to not own their...