FedEx pledges $25M to NIL program at Memphis

Apr 19, 2024, 11:04 AM ET

MEMPHIS– FedEx on Friday pledged $25 million over the next 5 years to be used in sponsorship deals with University of Memphis athletes, a big increase for the school’s name, image and similarity settlement efforts.The Memphis-based shipping giant stated the program will initially concentrate on football, guys’s and ladies’s basketball and other females’s sports. The offer was facilitated by Altius Sports Partners, a company that deals with lots of schools on NIL activities.The offer is for $5 million per year, a significant amount

for a school that does not play in a rich power conference. The Tigers complete in the American Athletic Conference.Editor’s Picks 2 Associated”This gives us an opportunity to invest in bright, young athletes in our fantastic home town of Memphis, enhancing our connection to the next generation of leaders,”FedEx executive vice president and chief marketing officer Brian Phillips stated in a statement.The company is a popular presence in Memphis sports. The NBA’s Grizzlies and Memphis basketball play at the FedExForum, and FedEx is a sponsor for the PGA’s FedEx St. Jude Classic.FedEx will host an NIL occasion Saturday at Memphis ‘spring football game.” We are really appreciative of the vision and assistance of FedEx’s management in this location,”Memphis athletic director Laird Veatch said.” NIL opportunities have actually become an essential element of the student-athlete dynamic, and we believe major business support of NIL will require to be a key part of the future landscape of college athletics. “