FedExForum is one of the National Basketball Association's most distinctive Arenas. It officially opened in September 2004 after much debate and also an Alberta clipper wind storm in July 22, 2003, that nearly brought the Crane (machine) that were building it down on famed Beale Street. It is in the southern part of downtown Memphis, Tennessee, at 191 Beale Street and Third Street. It is the home of the Memphis Grizzlies of the NBA and men's basketball program of the University of Memphis (the Tigers). They both previously played home games at the Pyramid Arena. The arena was built at a cost of $250 million and is owned by the City of Memphis; naming rights were purchased by Memphis' most well-known business, FedEx for $92 million. FedExForum was financed using $250 million of public bonds