The mysterious college basketball saga surrounding Memphis transfer Tyreek Smith finally came to a conclusion on Monday, for now. Penny Hardaway reportedly removed him from the roster over an ongoing NIL dispute that ultimately became irreconcilable.
Smith is now expected to enter the transfer portal for the fourth time in five years.
This whole thing began on October 18. Smith stepped away from the team because he was not getting paid what he expected from Memphis’ top NIL arm. His mentor/agent claimed that there were a lot of “false promises” that were not being met.
Smith quickly ended his holdout and returned to practice two days later on Oct. 22. Hardway, who was not involved with any of the initial conversations about NIL money, downplayed the entire situation.
He came to me and asked me for a couple personal days, and I gave them to him. And then that turned into people not seeing him at practice, and then it just became a wildfire. He never once told me he was quitting.
— Penny Hardaway on Oct. 24
Although Hardway did not publicly attribute any of the Smith drama to Name, Image and Likeness, the 53-year-old did express his frustration with the current state of college basketball (and athletics) as a whole.
There’s so much pressure with NIL, with playing time, with family members, with all kinds of stuff happening. Most coaches are leaving, like Tony Bennett, one of the coaches that we need on this level. Some coaches just can’t stomach showing up every day and thinking it’s about money or something’s always wrong. You got a different team every year. Like, you can’t have your same team. You gotta re-recruit your guys.
For the basketball purists, that’s tough. It’s like a gut punch. Every day, having to see something on social media or hear a young man or lady isn’t happy about this or that. It’s just our life that we have to deal with right now, but nothing surprises me anymore in today’s game.
— Penny Hardaway on Oct. 24
According to Bluff City Media, all of the allegations about failed payments were untrue. Sources told the Tennessee-based publication indicated that all of Smith’s contractual requirements were met. FedEx, through the Bluff City Collective, supposedly paid all of their deposits on time as scheduled since he arrived to campus over the summer.
In addition to the money, Smith might’ve been frustrated with his role. He did not start during a charity exhibition against North Carolina last month. The coach who recruited him to Memphis (who is no longer with the team) promised that he would start at power forward but Hardaway moved him to center for small-ball lineups.
Smith’s agent/mentor disputed those claims and put the blame back on money, or rather, a lack thereof.
Naw he not scared of competition. But since you got so much to say, go help em raise some money for their collective to pay their debts
— @Hboog32 on X
The truth likely falls somewhere in the middle.
Roman Cleary of Bluff City Media has all over this story since the beginning. He attributes the drama to a combination of multiple factors.
However, Penny Hardaway’s decision to dismiss Tyreek Smith from the program was rooted in finances. The fifth-year senior reportedly “barged into the head coach’s office and asked for earlier payments than what he originally agreed to earlier this week.” That was the final straw!
As result of the dismissal, Smith’s NIL contracts are terminated. The Tigers will begin their 2024-25 campaign without Smith on Monday night.