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Call it the CN Centre.

That’s the new name for the old Multiplex as Mayor Colin Kinsley announced Wednesday night a deal to give the railway company naming rights to the arena for 15 years, starting this month, in exchange for $1.3 million.

The rebranding will include new illuminated signs on the outside of the building, new signage inside, a CN Centre logo at centre ice as well as on all promotional materials for the arena.

Before about 240 people who attended a dinner held on the rink floor of the building, Kinsley and CN chair David McLean unveiled the new logo, which combines CN’s corporate insignia and a red swoop symbolizing the impression of a skate blade on ice.

The move improves the status of the building, Kinsley said.

"For year’s we were just the Multiplex and everybody knew it was a beautiful building but it just didn’t have the pizzazz of a corporate name," he said.

Asked if it was a ploy to buy support for CN on the heels of the controversial B.C. Rail deal, McLean gave a combative answer.

"Anybody can think what they wish," he said. "We’ve been involved in this community for 50 years and we’re more involved now that we’ve got the B.C. Rail partnership and we feel that in every community we’re in, we should be a good corporate citizen."

A loose end still needs to the tied up -- how CN will pay out the $1.3 million over the term of the deal. Kinsley indicated it might involve some front-end loading with smaller payments near the end.

The revenue, which won’t be included in this year’s operating budget for the city, will help hold the line on property taxes and user fees.

"It’s new money into the community, it’s new money to make for a better facility," Kinsley said.

At 15 years, as well as an option to renew for a further 10 years, Kinsley said it’s longer than most similar deals but will also mean there won’t be a name change ever few years as has occurred elsewhere.

"It’s a good deal for them, it’s a good deal for us," he said. "It’s a win-win for everyone."