Memphis-based First Tennessee Bank and the Triple-A PCL Nashville Sounds yesterday announced a 10-year naming-rights agreement to the team's new ballpark slated to open in '15, with "options to extend the deal an additional 10 years," according to Nick Cole of the Nashville TENNESSEAN. Financial terms of the deal were not disclosed, but Sounds Owner Frank Ward said that there are "no buyout clauses built into the agreement." Vanderbilt economics professor John Vrooman said that recent stadium-naming deals in Triple-A baseball markets "ranged from $300,000 to $750,000 annually for 15 to 20 years." Nashville Mayor Karl Dean indicated that the Metropolitan Transit Authority "would not see any financial gain from the agreement." Dean noted that while the plan to have the ballpark ready by next April is an "ambitious schedule," construction efforts are "on target and on time." Dean: "I'm optimistic that we'll be able to get it done and done right." Meanwhile, Ward said that Greer Stadium's "trademark guitar-shaped scoreboard will not be part of the new stadium design" (Nashville TENNESSEAN, 4/23).
