Industry sources say the deal is one of the most lucrative stadium sponsorship agreements in history at an estimated $800 million. Scotiabank is worth nearly $1 trillion, and deep pockets means it can afford to put its name on stadiums across the country.
The move has people online following the money:
Scotiabank's move appears to make financial sense country that loves hockey. Perks include branding at the home of the Maple Leafs, where the Toronto Raptors play -- a stadium that is a famous concert venue and is at a prime downtown location.
People online weren't happy at the news of the name change:
Air Canada has held the naming rights to the arena since it opened 18 years ago. For many Torontonians, the name switch might be hard to make. The SkyDome became the Rogers Centre 13 years ago, but many still call the venue by its former name: