The Frederick W. Smith family announced its $50 million challenge gift to the University of Memphis for Simmons Bank Liberty Stadium renovations. The gift by the FedEx founder’s family marks the largest in school history.
In addition, the Memphis City Council is reviewing a resolution for an additional $120 million in state grant funding to complete stadium renovations. The resolution would also transfer ownership of the football stadium to the university. Tiger Lane would remain city property.
City leaders have already started chiming in on the plan.“I am in full support of this project. I have been involved in the dialogue on this project,” Memphis Mayor-Elect Paul Young said in a statement.
The university released the following statements online:
The Frederick W. Smith Family, headed by the founder and executive chairman of @FedEx, has committed a $50 million challenge gift to the @uofmemphis for renovations to Simmons Bank Liberty Stadium, the home of @MemphisFB, which marks the largest… pic.twitter.com/l9HQDPT5X8
— Memphis Tigers (@TigersAthletics) November 21, 2023
???? @LairdVeatch pic.twitter.com/9qmrS3Dyg8
— Memphis Tigers (@TigersAthletics) November 21, 2023
Not everyone is on board with the proposed funding. Memphis City Councilman Martavius Jones was critical of the project’s execution:
Chairman Jones says he “vehemently opposes” gifting stadium. “The University of Memphis was able to raise funds for Leftwich Tennis Center without us ceding ownership. I don’t buy into this.”
— Bill Dries DM (@bdriesdm) November 21, 2023
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