Saskatoon’s Credit Union Centre will soon be called the SaskTel Centre.

City councillors approved Thursday a 10-year contract to give naming rights of the arena to SaskTel.

The contract, valued at $3.5 million, will see the provincial Crown corporation pay the facility $350,000 per year. SaskTel will take over the name starting Oct. 1.

The company unveiled the SaskTel Centre logo at a press conference Friday morning.

The arena opened in 1988 as Saskatchewan Place. Credit Union took over the naming rights in 2004 under a 10-year, $1.6-million contract.