Goodbye ACC, hello Scotiabank Arena! Home of Leafs, Raptors has new name

Goodbye Air Canada Centre, hello ScotiabankArena.

The home of Toronto's Maple Leafs and Raptorshas a new name marking the end of an era for Canada's busiest sportsand entertainment venue.

TheScotiabanklogo replaced that of Air Canada atop the Bay Street building on Canada Day. That's when the 20-year sponsorship agreement between Maple Leaf Sports & Entertainment(MLSE) andScotiabankkicked in.

The Canadian bank'srecord-setting $800-million deal for the naming rights of the stadium, that also housesthe Toronto Rock of the National Lacrosse League and serves as apremierstage for music, signifieda major shift in the sports marketing landscape.

Under the theterms of the deal, first announced in late August of 2017, Scotiabankwill pay a reported $40 million a year. The price tag is enormous. It's more than 10 timeswhat Air Canada paid for the inaugural rights nearly two decades ago.

"Our goal is to ensure, working with MLSE, that when you come down here in the fall for first puck drop or tip off, you feel different," John Doig, executive vice-president of Scotiabank, said Tuesday in an interview with CBC Toronto.

Air Canada has held the naming rights to the arena since it opened in 1999. TheACCis even an acronym rooted inthe city's vernacular.

And it'sclear it will take some Leafs and Raptorsfans time to adopt the new name.

"It's kind of like the Rogers Centre just up the street. It will always be the Skydome to me," Toronto resident Rob Robinson said.

A hashtag "ACCforever" has been created for Torontoniansto tweet their memories.

While Doig recognizes that "change is difficult" for Toronto fans, he explains that Scotiabankis striving to "do a really good job at improving the fan experience" at ScotiabankArena.

A first step is adding MLSEto its SCENE loyalty program, whichwill now be handing out reward points to sports and music fans who buy tickets.

The bank will also be installinga larger, more "complete" interactive sign ahead of the start of the National Hockey League's season in October, as the current one is only temporary.

"I do believe that over time, ScotiabankArena or Scotia Arena, will be the name of this great building," said Doig.

A renovation of the main gates to improve the flow of people and enhance security to help fans take their seats faster is also on Scotiabank's to-do list.

Inside, the bank is doing a makeover of the jumbo scoreboard, adding its logo below, and rebuilding the former Air Canada Club now dubbed Scotia Club. Concrete floors, and exposed walls and ceilings will be added in the area over the summer, said Nick Eaves, chief venues and operating officer of MLSE.

"We're going to renovate it to reflect the new brand and energy of the building," he said.