Technology provider SAP has extended a naming-rights deal at the home of the San Jose Sharks NHL ice hockey franchise.
The five-year renewal struck by Sharks Sports & Entertainment (SSE), the parent company of the Sharks and the team’s arena, will run until 2028.
Although the financial details of the deal have not been publicly disclosed, SSE president Jonathan Becher has indicated that the naming-rights fee will be a “significant increase” on the reported $3.35m-per-year agreement originally signed a decade ago.
“SAP exemplifies a true partner who shares a common vision, values, and focus on innovation,” Becher said. “With the extension of our partnership, we look forward to even more collaboration, focused on pioneering the future of sports and entertainment and improving the lives of those in our community.”
The two parties will continue to work together on community and business development projects.
SAP has also collaborated with SSE to make SAP Center a technology incubator for various use cases, including the SAP Business Technology Platform for data and analytics, SAP S/4HANA Cloud for finance, SAP SuccessFactors for HR, SAP Concur for travel expense management, and SAP Customer Experience solutions.
Yaad Oren, managing director of SAP Labs US and head of SAP Innovation Center Network: “Over the years, our involvement with Sharks Sports & Entertainment has remained focused on using leading technology to deliver enhanced insights that help the organisation achieve its business goals, grow its global fan base, and give back to the local community. With our longstanding partnership, we are excited to continue evolving our commitment to cultivating innovation in the Bay Area at the SAP Center.”