Tangerine becomes the Raptors’ official bank

Scotiabank positions its subsidiary as part of a wide-ranging deal with MLSE.

As part of its massive new deal with Scotiabank, Maple Leaf Sports & Entertainment (MLSE) has named the bank’s Tangerine subsidiary brand as the official banking sponsor of the Toronto Raptors.

BMO had been the NBA franchise’s official sponsor in the category, a partnership it often utilized in its customer-facing campaigns. (It also made its involvement with another MLSE team – Toronto FC – part of its marketing plans.)

But when the Raptor’s MLSE owners signed an expanded 20-year deal with Scotiabank last year worth an estimated $800 million, many wondered how it would affect MLSE’s partnerships for the Raptors and its NHL sibling, the Toronto Maple Leafs.

Scotiabank remains the official banking partner of the Leafs as part of a multi-year campaign to position itself as “Canada’s hockey bank.” It currently presents a Wednesday night broadcast of Leafs games, and the Leafs’ home arena will be renamed in the financial institution’s honour on July 1, 2018 – the same day Tangerine’s category exclusivity goes into effect.