Following Tuesday's announcement, the newly-named First Tennessee Park received much attention from local media.
Here are some of the links:
First Tennessee Bank buys naming rights to new Sounds stadium - BizJournals.com
New Sounds Stadium Will Be Called First Tennessee Park - Nashville Public Radio
Sounds stadium gets First Tennessee name - NashvillePost.com
New Sounds stadium at Sulphur Dell to be named First Tennessee Park - Nashville's NEWS 2
Nashville Sounds Announce Name Of New Ballpark - Channel 5
NEW SOUNDS BALLPARK NAMED - FOX17
First Tennessee's name will go on new Sounds ballpark - The Tennessean
Nashville's new ballpark has a name: First Tennessee Park.
And it will be getting a new scoreboard. The Sounds iconic guitar-shaped scoreboard at Greer will not be making the move next summer.
First Tennessee Bank and the Nashville Sounds announced a 10-year agreement Tuesday for the park's naming rights, with options to extend the deal an additional 10 years.
Both parties declined to disclose financial terms. Sounds owner Frank Ward said there are no buyout clauses built into the agreement.
The Sounds are scheduled to move to North Nashville, in the area known as Sulphur Dell, in time for the first pitch of the 2015 season. Greer Stadium has been home to minor-league baseball since 1978.
Mayor Karl Dean, who was in attendance and spoke briefly at the announcement, indicated that Metro would not see any financial gain from the agreement.
"This is between the Sounds and First Tennessee, but it's a good investment in a good project," Dean said. "What this means to me is this is a validator in the strength of the project and the strength of the appeal of the stadium and the strength of baseball in Nashville."
Recent stadium-naming deals in Triple-A baseball markets ranged from $300,000 to $750,000 annually for 15 to 20 years, according to John Vrooman, sports economics professor at Vanderbilt University.
Sounds owner Frank Ward said there were "several" other businesses involved in the negotiation process, but First Tennessee Bank emerged with an aggressive pursuit of the rights.
"This is not something that just popped up," said Carol Yochem, who serves as Middle Tennessee president of First Tennessee Bank. "This has been a desire of ours for a very long time."
Though naming rights agreements for athletic facilities sometimes fall apart due to financial issues, Ward believes the 150-year track record of the state's oldest and largest banking organization does not create cause for concern.
"There is no doubt in my mind about their financial capabilities and their commitment to the Sounds," Ward said. "I think it is unfair to try and do a parallel of the two organizations."
Jim Grinstead, publisher of the Nashville-based Revenues From Sports Venues newsletter, said the partnership makes sense for both the team and First Tennessee, which will benefit from increased visibility and from a community relations standpoint.
"The goal may be getting new accounts but also to raise their visibility, and certainly it's going to do that," he said. "(The bank) has a good, positive reputation… It's a good safe bet and puts the focus on the ballpark and the team and not on controversy, and that's always what you want."
Because the area still is underdeveloped and the ballpark's location doesn't have a huge amount of visibility, First Tennessee may have gotten a favorable deal, according to Grinstead.
"The advantage may be they may get a good deal on naming rights now and as that area grows and develops and has more traffic, it may prove to be more value for them," he said.
Mayor Dean joined the Sounds in unveiling two new renderings of the stadium at Tuesday's event, one with an exterior view and another from the interior.
The mayor said that while the plan to have the ballpark ready by next April is an "ambitious schedule," construction efforts are "on target and on time."
"I'm optimistic that we'll be able to get it done and done right," he said.
Ward said the privately owned developments planned for the area surrounding are still in the design phase, and may be ready for groundbreaking by late summer or early fall.
Ward also divulged that Greer Stadium's trademark guitar-shaped scoreboard will not be part of the new stadium design.
"The guitar scoreboard at Greer is staying at Greer," Ward said. "At some point in time we will share what our new scoreboard will look like, but it's too early in the process. We're trying to figure it out as we speak."
Reporters Jamie McGee and Michael Cass contributed to this report. Reach Nick Cole at 615-259-8010 and on Twitter @ncole6.