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Friday, November 3, 2000
San Jose council OKs negotiations
Associated Press
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SAN JOSE, Calif. -- The City Council on Tuesday approved an early step in a plan to sell the naming rights to San Jose Arena, home of the NHL's Sharks, to Compaq Computer Corp. for $47 million. The council authorized city staff to negotiate specifics of
Mayor Ron Gonzales' plan, which would rename the arena Compaq
Center at San Jose and extend the Sharks' lease by another 10
years, until 2018. The Sharks, who manage the arena the city built a decade ago, have a tentative agreement with the Houston-based computer manufacturer for the naming rights for 15 years. Final approval lies with the city. After city staff members hammer out the fine print, the council will vote on the proposal in full. Gonzales' spokesman, David Vossbrink, said he expects that will occur around the middle of December.
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