Following the takeover of Walsall FC by Terry Ramsden in 1986, plans were drawn up for the club to move from its antiquated Fellows Park stadium to a new site in the town. In 1988, a site at Bescot Crescent was identified as the location for a new stadium, and work began on the new stadium in 1989 with completion targeted for the start of the 1990–91 season.
The stadium was opened on 18 August 1990, by Sir Stanley Matthews, prior to a friendly match with neighbours Aston Villa in front of 9,551 spectators. Aston Villa won the match 4–0.[2] The first competitive game was played a week later on 25 August 1990. 5,219 spectators watched Walsall draw 2–2 with Torquay United, with the stadium's first goal being an own goal scored by Walsall defender Matt Bryant after 65 seconds. The first goal scored for Walsall at the stadium was by Stuart Rimmer.[3] Originally both ends of the ground were standing areas, and the capacity of the ground was 11,104. However, capacity was reduced to around 9,800 in 1992, when the away supporters terrace was filled with seats.[2] Following an extension to the 'home' end of the ground (formerly known as the Gilbert Alsop Stand), during the 2002–03 season, it is now an all-seater stadium, with a capacity of 11,300.
A sponsorship deal with Banks's Brewery in 2007 saw the name officially changed from the Bescot Stadium to the Banks's Stadium. This sponsorship deal was extended in 2016 until the summer of 2022.[4] The stadium has been host to England under-21, under-19 and under-17 international matches, Aston Villa reserve team matches, Aston Villa Women matches and England women's international matches.
Outside football, the stadium has hosted two concerts. On 22 June 1991, The Wonder Stuff began their Sharing The Love mini-festival tour at the stadium.[5] Twenty-four years later, on 13 June 2015, the stadium hosted its second concert when Elton John played in front of 14,000 fans.[6]