FedEx Bets Big on Memphis Athletics: A $25 Million Sponsorship Deal Marks New Chapter in College Athletics

In 2024, the University of Memphis announced a historic sponsorship deal with FedEx worth $25 million over five years. The partnership was facilitated by Altius Sports Partners and will 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 is significant for Memphis as it competes in the American Athletic Conference and is not part of a wealthy power conference.

FedEx, a Memphis-based shipping giant, expressed its commitment to investing in young athletes from its hometown. The partnership strengthens the company’s connection to the next generation of leaders while also highlighting its presence in Memphis sports. FedEx has existing partnerships with the NBA’s Grizzlies and Memphis basketball teams as well as sponsorship of the PGA’s FedEx St. Jude Classic.

To kick off the partnership, FedEx will host an NIL event at the Memphis spring football game. Laird Veatch, Athletic Director at Memphis, expressed gratitude for FedEx’s leadership and support in name, image, and likeness opportunities for student-athletes. He emphasized the importance of major corporate support in college athletics and acknowledged how crucial NIL opportunities are to the student-athlete dynamic.

The $5 million per year agreement is especially significant for the University of Memphis as it competes in a less affluent conference compared to some other institutions. However, this partnership represents an opportunity to elevate their brand recognition through corporate support.

Overall, this landmark sponsorship deal between FedEx and University of Memphis signifies a new era in college athletics where NIL opportunities play an increasingly important role in shaping student-athletes’ experiences on campus while also providing financial support for their future endeavors.