The Shark Tank Gets A Name Change To SAP Center

May 5, 2013; San Jose, CA, USA; General view of HP Pavilion before game three of the first round of the 2013 Stanley Cup playoffs at HP Pavilion. Mandatory Credit: Ed Szczepanski-USA TODAY Sports

 

San Jose, CA–Today, according to the City of San Jose’s Mayors Office that the San Jose Sharks and city have a reached an agreement to change it’s current the HP Pavilion to the SAP Center.

According to current HP CEO Meg Whitman, she made mentioned that she wanted her company to terminate the arena naming deal months ago.  Current Sharks Majority owner Hasso Plattner is the founder of SAP so the name fits for the new arena.

The agreement has been set for a five year time span.  Financial responsibilities will be a split between the San Jose Sharks and City of San Jose.

Each year, the Sharks will be paying $1,675,000 over the next five years.  The total amount that the organization is to pay out in revenue costs, is $8,375,000 according to city officials.

It still has yet to be approved by the San Jose’s Council members.  The vote is expected later today.

Prior to it being called the HP Pavilion, in 2002 the arena’s name was known as the Compaq Center.  When Compaq was bought Hewlett Packard, the name of the Shark Tank was changed to HP Pavilion.

Below is the official agenda release by the city council.

4.3 Actions Related to the Arena Naming Rights.

Recommendation:

(a) Adopt a resolution authorizing the City Manager to negotiate and execute an agreement between HP, San Jose~ Arena Management and the City of San Jose to terminate the current naming rights agreement for the San Jose~ Arena; HONORABLE MAYOR AND CITY COUNCIL

June 4, 2013

Early Distribution Packet

Page 6

(b) Approve a five year Naming Rights Agreement by and between SAP Global Marketing, Inc., San Jose Arena Management, LLC and the City of San Jose for the naming of the San Jose Arena to SAP Center at San Jose for an annual payment to the City of $1,675,000, with total revenues to the City for a total amount of $8,375,000 over five years.

CEQA: Not a Project, File No PP10-066(e), Services that involve no physical changes to the environment. (City Manager’s Office)

 

***Cities agenda excerpt courtesy of NBC Bay Area.***

Official Link: http://www.nbcbayarea.com/news/local/Say-Good-bye-to-HP-Pavilion-as-Shark-Tank-Gets-New-Name-210279721.html

 

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Topics: HP Pavilion, San Jose Sharks, SAP Center

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  • TheHarvestOfDoom

    SAP San Jose Arena

    That’s what the building should be called. The Bradley Center in Milwaukee did this correctly when they signed their deal with BMO Harris by calling the building, BMO Harris Bradley Center instead of something like BMO Harris Arena.

    While we all don’t like corporate names on our buildings, I think this is the best way to compromise by having the corporate name added to the beginning of the building’s name while keeping the actual name itself. This especially helps when a building keeps having name changes every few years such as the case with the former Pacific Bell Park.

    So spread the word, get this message across to everybody and every blog, comment board, forum etc. here in the Bay, especially to those on the city council! Together, we can have our building name and SAP can have theirs too! And while we are at it, let’s change AT&T Park to something like AT&T Willie Mays Field or AT&T Pacific Coast Park or whatever would fit well with that stadium. Together, we can make a difference!

    And for those who say things like “It’ll never work”, “A Deal is a Deal”, “Learn to accept it” etc., GO AWAY! Your negativity is not needed around here.

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