Simmons First National Bank issued the following announcement Oct. 1
Simmons Bank (Simmons) in partnership with the City of Memphis announced today that it is in advanced negotiations to be title sponsor of Liberty Bowl Memorial Stadium. Opened in 1965 by the City of Memphis as Memphis Memorial Stadium, it serves as a tribute to the veterans of World War I, World War II and the Korean War.
“With the continued reinvestment surrounding the Liberty Bowl and many other areas across the city, Simmons Bank is proud to partner with the City of Memphis to ensure the future of this historic stadium which represents a critical element of this important renaissance project,” said George A. Makris, Jr., chairman and CEO of Simmons. “As Simmons Bank Memorial Stadium, the name will continue to uphold the honor and tradition the stadium serves as a tribute to our veterans.”
Earlier this year, Simmons First National Corporation, the parent company of Simmons Bank, announced the acquisitions of Tennessee-based Landmark Community Bank and Triumph Bancshares, Inc., the parent company of Triumph Bank. These acquisitions are expected to close in October. Once completed, Simmons Bank will be the 8th largest bank in Tennessee and 7th largest bank in Memphis based on market share data recently released by the FDIC.
“I couldn’t be happier with this public/private partnership that will allow us to enhance the overall fan experience at the stadium and will tie in perfectly with the $126 million Liberty Park development right next door,” Mayor Jim Strickland said. “Through this partnership with Simmons Bank, we continue to honor the history of the stadium while ushering in a new area as Simmons Bank Memorial Stadium.”
University of Memphis Director of Athletics Laird Veatch added, "Having the City of Memphis add a strong corporate partner like Simmons Bank is a progressive step forward for our community and the home of Memphis Tiger football. We look forward to working with all our partners to create the best experiences for every fan that enters the gates of Simmons Bank Memorial Stadium."
Located in the heart of Midtown, the soon to be Simmons Bank Memorial Stadium, which is subject to the execution of a definitive agreement, includes 40 skyboxes, seven executive suites and a 175-person stadium club. Home to the University of Memphis football team, the stadium and fairgrounds has seen numerous renovations and expansions, and now has a capacity of 58,325. The stadium also hosts the Southern Heritage Classic and AutoZone Liberty Bowl. In addition to football, the venue accommodates other events such as concerts, family shows, band competitions and corporate events. Spectra, which has managed the complex since 2011, is negotiating the naming rights on behalf of the City of Memphis.
Original source can be found here.
Source: Simmons First National Bank
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