First Horizon Bank signs on as official sponsor for Memphis Grizzlies
Participating in this sponsorship deal:
About Sponsor:
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank. In November 2019, First Horizon Corporation and IberiaBank Corporation agreed to merge, closing in July 2020. The combined bank is based in Memphis, Tennessee, and uses the First Horizon name. The bank gained national attention during the 2023 banking crisis, in which multiple regional banks across the United States as well as the Swiss institution Credit Suisse all collapsed and were bought out. First Horizon's stock price began to plummet in the wake of both a merger with Toronto-Dominion Bank being called off and the collapse of First Republic Bank in San Francisco.
About Property:
The Memphis Grizzlies are a professional basketball team based in Memphis, Tennessee, USA. The team is part of the Southwest Division of the Western Conference in the National Basketball Association . Along with the Toronto Raptors, the Grizzlies were established in 1995 as part of the NBA's expansion into Canada. The team originated that year in Vancouver, British Columbia and relocated to Memphis in 2001. The team's majority owner is Michael Heisley, who controls a 95% share of the franchise; the remaining 5% is controlled by several local owners, including AutoZone founder J. R. Hyde, his wife Barbara Hyde, equity manager Staley Cates, and former NBA player and University of Memphis point guard Elliot Perry.