The recent purchase of Air Canada Centre naming rights by Scotiabank is the focus of a Globe and Mail op-ed by Prof. Timothy Dewhirst, Department of Marketing and Consumer Studies.

Scotiabank will pay $800 million over 20 years to rebrand the home of the Toronto Maple Leafs and Toronto Raptors, starting next summer.

Dewhirst said the agreement between Scotiabank and Maple Leafs Sports and Entertainment is an attempt by the bank to establish “a dominating presence among principal consumer and stakeholder touchpoints.” He said the challenge for Scotiabank will be evaluating how owning the naming rights enhances the bank’s image.

Dewhirst studies sports marketing, sponsorship deals and advertising.