The Calgary Flames home rink is now called the Scotiabank Saddledome, team president Ken King announced Friday. ((CBC))

The Calgary Flames have signed a deal to call their home arena the Scotiabank Saddledome.

Flames president Ken King made the announcement at the arena on Friday, calling the new naming deal "really, really cool."

"It signifies the closest relationship you can have in professional sports," he said.

"It’s much more than a name on a building. It is a total and mutual commitment to co-branding and marketing two of Canada’s best, in banking and in hockey."

For the past decade the arena on the Stampede grounds has been called the Pengrowth Saddledome. But the arrangement with Calgary-based Pengrowth Energy Trust expired earlier this year.

Scotiabank already has its name on several Canadian sport facilities, including Scotiabank Place in Ottawa and Scotiabank Field in Vancouver.

Originally called the Olympic Saddledome, the dome was built in 1983 for the 1988 Calgary Winter Olympics.