SAN JOSE, Calif. (KRON) — The San Jose City Council is set to approve a deal on Tuesday that will keep the San Jose Sharks in the city until 2051.
The agreement involves the city funding up to $350 million of a $425 million upgrade to the Shark Tank, also known as the SAP Center.
Critics argue that the city should prioritize its residents over a sports team, given the current budget deficit.
The city of San Jose is facing a budget deficit of up to $35 million this year, which has fueled criticism of the deal.
Supporters of the agreement claim that keeping the Sharks in San Jose could generate billions of dollars over the next 25 years.
To finance the upgrade, the city might utilize bonds and taxes, although specifics on this approach have not been detailed.
All facts in this report were gathered by journalists employed by KRON4. Artificial intelligence tools were used to reformat from a broadcast script into a news article for our website. This report was edited and fact-checked by KRON4 staff before being published.
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