On the same day Scotiabank reported quarterly net earnings of over $2 billion, they went on a spending spree in downtown Toronto. Maple Leafs Sports and Entertainment has sold the naming rights to what is now called the Air Canada Centre to Scotiabank for a reported total of (CAD) $800 million to be paid out over 20-years.

MLSE, you’re richer than you think

Scotiabank is best known to hockey fans for their extremely bland commercials which are repeated twenty times during each Hockey Night in Canada broadcast. They usually feature a cringe-worthy tag-line that presents Scotiabank as having some superior value-added services you can’t get at every other bank; something no one actually believes.

What will the new name be?

Well that’s original

Come on.

Not only do we not get an interesting suffix to Scotiabank, instead going for the Scotiabank-bland approved Arena, we lose the uniquely Canadian ‘Centre’, which has delightfully flummoxed Americans for years.

The loss of unique names in favour of the generic “Arena” or “Place” is sad. Even Gardens would be better, though I’m sure something actually original and unique could be thought up by someone given the huge amounts of cash involved.

I don’t think this is a catastrophe. I’m not wringing my hands with anxiety over this. But I’m sure there will be further encroachment in to “our space”. There’s no way Scotiabank is paying out that much money for only a barely visible sign outside the arena. As a giant financial institution with gobs of money to dump on useless ad-campaigns, you can bet they will be littering the concourse of the ACC with people and ads to remind you they exist. They are doing this to make a profit, folks (and to get free corporate boxes and court-side/on-the-glass seats).

A fifth season will soon arrive at the ACC SBC; construction-season (seriously finish that Gardiner ramp already), playoff-season, silly-season, off-season, and now, RRSP-season.

Wait, does this mean the Leafs get P.K. Subban now?

Stand Witness... to our introductory credit card rates

I expect we will now have hustlers hanging out around the concessions trying to sign us up for credit cards and brokerage accounts; ads everywhere, including the Arena WiFi now requiring you watch a 30 second Scotiabank video advertisement before you have access. Two days later you will get a spam email from Scotiabank selling some high-fee mutual fund because in the 1,967 word Terms of Use for the WiFi access which you didn’t spend 15 minutes reading you agreed to let them use your personal data for marketing forever.

Perhaps some themed food will appear for the platinum sections. What would Scotiabank Sushi be made from? Whatever it is, you would find out there’s an unexpected extra ‘fee’ for eating it later on that night.

Perhaps there is a silver lining to all this. Maybe their financial wizardry can further help the Leafs. It could all be rolled into a new ad campaign starring Joffrey Lupul...

“You have more cap space than you think.”

Obviously you’re not calling it the Scotiabank Arena, so which nickname will you use?

The SCC - Service Charge Centre116
The ATMM - Always Taking My Money56
TFP - The Fee Palace36
I will always call it the ACC.846