The University of Memphis has announced a landmark sponsorship deal with FedEx worth $25 million over the next five years. This partnership is set to enhance the school’s name, image, and likeness compensation efforts for its student-athletes. Initially focusing on football, men’s and women’s basketball, and other women’s sports, the deal was facilitated by Altius Sports Partners, a company specializing in NIL activities.
FedEx, a Memphis-based shipping giant, expressed its commitment to investing in young athletes from its hometown, strengthening its connection to the next generation of leaders. The $5 million per year agreement is especially significant for the University of Memphis, which competes in the American Athletic Conference and is not part of a wealthy power conference.
The company will be hosting an NIL event at the Memphis spring football game to kick off the partnership. Memphis Athletic Director Laird Veatch expressed gratitude for FedEx’s leadership and support in the realm of name, image, and likeness opportunities for student-athletes. He emphasized the importance of major corporate support in the future of college athletics, acknowledging the crucial role NIL opportunities play in the student-athlete dynamic.