The FBR Open was first played in 1932. It is better known as the Phoenix Open but in 2003, Freidman Billings Ramsey investment bank became sponsors. The tournament is famous for being the best supported event on the PGA Tour. Over 500,000 people attend the tournament over the four days.

The 16th hole has become famous for its stadium atmosphere where huge stands are erected around the hole before the event begins. In 1997 Tiger Woods made a hole in one. JB Holmes has won the title twice in the past three years beating Phil Mickelson in a playoff in 2008.