Breaking: Massive $800 million deal will give Air Canada Center a new name!

The Toronto Maple Leafs have been playing in a building known as the Air Canada Center for the better part of two decades, but that is all about to change. 

According to a breaking news report from TSN's Rick Westhead, arguably the best National Hockey League business insider in the business, the Toronto Maple Leafs and their parent company Toronto Maple Leafs Sports & Entertainment have struck a massive deal with Scotiabank.

Westhead is reporting that no fewer than three sources have informed him that MLSE and Scotiabank have agreed to a monster 20-year partnership that will see Scotiabank paying MLSE a whopping $800 million over the lifespan of that partnership.

Under the terms of the deal the arena will be renamed simply as the Scotiabank Arena beginning of the first of July 2018, and will presumably retain that name at least until the end of the partnership.

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The arena is also home to the National Basketball Association's Toronto Raptors and hosts a number of different functions year round when those teams are not playing. 

This is one of the largest such deals in all of North America.