The two primary issues at the heart of the negotiations for a new lease agreement between the San Jose Sharks and the City of San Jose are the age of the SAP Center arena and financial concerns.
The Sharks are not currently seeking a new arena but rather significant upgrades to the over 30-year-old SAP Center amidst a competitive landscape where other arenas are undergoing major renovations or new constructions.
The crucial negotiation point revolves around determining who will bear the costs for these said upgrades, with both parties aiming to minimize their financial responsibility.
While the Sharks are committed to playing in San Jose until 2040, the lease terms will shift to a year-to-year arrangement from 2025, allowing the City of San Jose to adjust rental fees starting in 2025, introducing a significant financial aspect to the negotiations.
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