If you are not a fan of University of Memphis, you might want to consider shipping packages with a company other than FedEx. Otherwise, you will be helping to bankroll the Tigers’ athletic department.
Kind of.
FedEx Corporation announced a historic Name, Image and Likeness deal for University of Memphis athletes on Friday morning. It is going to have a major impact on the schools’ ability to compete. The local logistics giant promised $25 million in NIL money over the next five years, at $5 million per year. The money is earmarked for football, men’s and women’s basketball, and other women’s teams.
Our plan is to select athletes that best align to the initiative we’re promoting. Whether we’re promoting picture proof of delivery on social media or having athletes participate in in-person FedEx Cares events, we’ll assess each initiative and selected rostered student-athletes that best align to the opportunity at hand.
— Brian Philips, EVP/CMO/CCO for FedEx Corp.
Exactly how the money will be distributed among the different athletes and programs is unclear, but FedEx will work closely with Altius Sports Partners to determine allocation. Everybody will get a fair share.
It also does not stop at just $5 million!
The annual contribution also includes a 50% match clause. Memphis is going to start a campaign to raise an additional $2.5 million per year that FedEx will then boost the NIL fund even more on the back end.
This is a huge deal.
Memphis remains as a member of the American Athletic Conference alongside schools like UAB, Charlotte, ECU, USF, Tulane and FAU. Those schools do not have a guaranteed $5 million NIL foundation on which to build each year. They are hoping to raise that amount of money in total.
The Tigers are immediately at a huge advantage as a result of FedEx’s pledge. Although NIL is not the only thing in recruiting, it continues to play an increasingly bigger role in the process. Coaches with more money at their back are able to entice better talent to play for their programs.
Every time that you ship a package through FedEx, you will be helping to boost the status of Memphis athletics. If you are a fan of a different AAC program, you might want to consider UPS instead.