MEMPHIS (AP) — FedEx on Friday pledged $25 million over the next five years to be used in sponsorship deals with University of Memphis athletes, a huge boost for the school’s name, image, and likeness compensation efforts.
According to the Associated Press, the Memphis-based shipping giant said the program will initially focus on football, men’s and women’s basketball and other women’s sports. The deal was facilitated by Altius Sports Partners, a company that works with dozens of schools on NIL activities.
The deal is for $5 million per year, an especially significant sum for a school that does not play in a wealthy power conference. The Tigers compete in the American Athletic Conference.
The company is a prominent presence in Memphis Sports. The NBA’s Grizzlies and Memphis basketball play at the FedEx Forum and its a sponsor for the PGA’s FedEx St. Jude Classic.
FedEx will host an NIL event Saturday at Memphis’ spring football game.
