But it's a premium price for a premium product, branding and marketing expert Tony Chapman said in an interview with CBC News. "By and large there was no discernible impact on the purchase of naming rights on the profitability of the companies that bought them," he said in an interview. Companies love to make big splashes with arena naming rights, and they come up with all sorts of metrics to justify the price tag in terms of brand awareness. Air Canada has held the naming rights to the stadium where the Leafs and Raptors play since it opened in 1999. While the details of the deal are still unknown, Walzak suspects the bank's plan is for much more than just naming rights.

Source: CBC News September 04, 2017 09:00 UTC