The Air Canada Centre is getting a new name.
According to TSN, Maple Leaf Sports & Entertainment (MLSE) has agreed to a 20-year sponsorship agreement to rename the ACC to the Scotiabank Arena.
“We have always sought new and innovative partnerships with the goal of building strong and enduring communities,” said Brian Porter, Scotiabank’s President and CEO in a release.
“Today’s announcement is an extension of Scotiabank’s unwavering love of sports and our commitment to help young people reach their full potential. We believe that MLSE is an ideal partner for Scotiabank to reach our objectives.”
In comparison, MLSE’s 1994 deal with Air Canada paid just under $4 million per year.
The name change will come into effect as of July 1, 2018, but the Internet has already had its say about the arena’s new title.
Air Canada Centre is about to become Scotiabank Arena?! Molson Amphitheatre is Budweiser Stage. What’s next, Sky Dome becomes Rogers Centre?
— Darryl🇨🇦 (@DarrylKoolFM) August 29, 2017
From Maple Leafs Square, to Air Canada Centre, to Scotiabank Arena. Why are we always downgrading?
— Usman Nafis (@usmerrn) August 29, 2017
20 year deal? Just to name it “Scotiabank Arena”
it’s the AIR CANADA CENTRE. PERIOD.
— Erik James (@oppaerik) August 29, 2017
changing air canada centre to scotiabank arena still won’t make us change our banks.
— s (@MAFlAEXO) August 29, 2017
— Chris Marshall ⚡ (@chrismarshall12) August 29, 2017
My ACC is to Scotiabank Arena, as my Skydome is to Rogers Centre. RIP Air Canada Centre Feb. 19, 1999 – July 1, 2018
— Gordon Brown (@GordBrown_) August 29, 2017
— Fran (@nanook660) August 29, 2017
Scotiabank and MLSE will also work together to develop a Centre for Excellence in downtown Toronto where employees will work to address customer concerns.
TSN says the deal is believed to be the be the highest priced building and team sponsorship in North America.