Say Goodbye to the Air Canada Centre

While the building isn’t going anywhere, the name is.

While the building isn’t going anywhere, the name is. The Toronto Star is reporting that the Air Canada Centre – home to the Maple Leafs and the Toronto Raptors is getting a new name.

MLSE announced Tuesday that the arena on Bay St. will be named the Scotiabank Arena under a new rights agreement that was finalized this week.

The name will officially change in July of 2018, ending the agreement with Air Canada, which has been in place since the building opened in 1999.

The Toronto Star is also reporting that Scotia Bank will pay $800 Million over the next 20 years for naming rights.