Sap Tennis Open

Sharks owners to ice Silicon Valley name

Now, the company wants a closer affiliation with its most well-known line of business — the Sharks.

Silicon Valley Sports & Entertainment said Wednesday that it’s changing its name, effectively immediately, to Sharks Sports & Entertainment.

The company is also changing its logo from a stylized “SVSE” to one that incorporates the hockey team’s shark image and colors — pacific teal, black and orange.

The rebranding comes about a week after the company laid off a reported 19 employees, many of whom worked in the corporate merchandise division. The company shuttered that division.

Malcolm Bordelon, executive vice president of business operations, said in a prepared statement that the new name would “leverage our organization’s most recognized and popular brand.”

He also said the company did not want to be affiliated with only the Silicon Valley region.

“As our business has grown beyond Silicon Valley – nationally and potentially globally in the future – we wanted to choose an identity that was not centric to any one geographic location,” he said in the statement.

The Sharks’ parent company operates the San Jose city-owned HP Pavilion arena and recreational ice rinks in San Jose, Fremont and Oakland.

Among other things, it also owns and operates the SAP Open men’s professional tennis tournament in San Jose; the Regions Morgan Keegan Championships tennis tournament in Memphis, Tenn.; and the Sharks’ American Hockey League affiliate in Worcester, Mass., the Worcester Sharks.

The company shed a line of business earlier this year, when the country’s dominant cage-fighting league bought Strikeforce, a rival league that was half-owned by SVS&E.

In that deal, announced in March, a subsidiary of Ultimate Fighting Championship’s Las Vegas-based parent company said it purchased the assets of San Jose-based Explosion Entertainment LLC, which operated Strikeforce.

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