Maple Leaf Sports & Entertainment has agreed to a landmark 20-year sponsorship agreement with Scotiabank to rename the Air Canada Centre, TSN has learned.
The agreement is worth about $800 million (Canadian), according to three sources familiar with the matter. Under MLSEs previous agreement with Air Canada, struck in 1999, the airline paid about $4 million per year.
The agreement with Scotiabank, which will see the downtown Toronto arena renamed the Scotiabank Arena next July 1, is believed to be the highest-priced annual building and team sponsorship in North American sports history.