FedEx announced on Friday that they will be investing $25 million over the next five years in sponsorship deals with University of Memphis athletes, a move that will greatly benefit the school’s name, image, and likeness compensation efforts. The Memphis-based shipping company stated that the program will initially focus on football, men’s and women’s basketball, and other women’s sports, with Altius Sports Partners facilitating the deal.
The $5 million per year agreement is a significant boost for the school, particularly since the Tigers do not belong to a wealthy power conference but instead compete in the American Athletic Conference. FedEx executive vice president and chief marketing officer Brian Phillips highlighted the company’s commitment to supporting young athletes in Memphis, stating that the investment will strengthen their connection to the next generation of leaders.
As a prominent presence in Memphis sports, FedEx’s support extends beyond their partnership with the University of Memphis. They are also sponsors of the NBA’s Grizzlies, Memphis basketball, and the PGA’s FedEx St. Jude Classic. To showcase their commitment to NIL opportunities, FedEx will host an event at Memphis’ spring football game on Saturday.
Memphis athletic director Laird Veatch expressed gratitude for FedEx’s support, emphasizing the importance of major corporate backing for NIL opportunities in college athletics. He believes that future partnerships with companies like FedEx will be essential in shaping the landscape of student-athlete dynamics.