On April 19, 2024, FedEx announced a landmark sponsorship deal with the University of Memphis athletes 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 is a prominent presence in Memphis sports, with partnerships that include the NBA’s Grizzlies and Memphis basketball, along with sponsorship of the PGA’s FedEx St. Jude Classic. The company will be hosting an NIL event at the Memphis spring football game to kick off the partnership.
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. FedEx expressed its commitment to investing in young athletes from its hometown, strengthening its connection to the next generation of leaders.
Memphis Athletic Director Laird Veatch expressed gratitude for FedEx’s leadership and support in the realm of name, image