Big news dropped Friday morning for University of Memphis athletics that impacts the present and the future of the school.
FedEx announced it’s committing $5 million a year for U of M athletes to contribute to their name, image and likeness fund (NIL) over the next five years.
To commemorate it, FedEx posted this video:We are proud to support University of Memphis student-athletes with our new NIL program initiatives, giving us the opportunity to invest in bright, young talent in our great hometown of Memphis. #GTG 🐯 @TigersAthletics pic.twitter.com/URmT8itSQq
— FedEx (@FedEx) April 19, 2024
“FedEx has established itself as a leader in NIL with this innovative commitment to our student-athletes,” University of Memphis President Bill Hardgrave said in a press release. “The University is immensely grateful for this investment, which further strengthens the valued relationship between FedEx, the UofM and our community.”
Front Office Sports reported this is “the largest corporate NIL deal of its type in college sports.”Memphians and others sounded off on the news on social media:
Thank you Fred Smith and @FedEx!!! #GoTigersGo https://t.co/4T0xjP3cYF pic.twitter.com/5tXtEjnBli
— Doc Holliday (@The_DocHolliday) April 19, 2024
Shout out to the FedEx. Athletics is the front door to our university, and our university is one of the best ambassadors for our city. Memphis athletics competing at the highest level is good for all of us. https://t.co/rcV7n8W3Eg
— Alex Gillespie (@AlexRGillespie) April 19, 2024
Significant & unique NIL deal announced: FedEx is investing $5 million this year in Memphis athletes as the first of a 5-year commitment. Players earn NIL by supporting initiatives from FedEx (headquartered in Memphis). UM-FedEx worked with Altius Sports Partners in facilitating
— Ross Dellenger (@RossDellenger) April 19, 2024
Tell uncle Fred the city love him and the Smith family! We are very grateful for all y’all do!
— Grizzlies. Tigers. Titans. (@901SportStrong) April 19, 2024
The groundbreaking deal follows the news late last year that FedEx is donating $50 million for Liberty Bowl renovations.
