FedEx and the University of Memphis Join Forces in a $25 Million Sponsorship Deal to Enhance NIL Compensation for Student-Athletes

On April 19, 2024, the University of Memphis announced a landmark sponsorship deal with FedEx 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.

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, a Memphis-based shipping giant that has long been active in local sports sponsorships, expressed its commitment to investing in young athletes from its hometown and strengthening its connection to the next generation of leaders.

FedEx has been a prominent presence in Memphis sports for years, with partnerships that include the NBA’s Grizzlies and Memphis basketball along with sponsorship of the PGA’s FedEx St. Jude Classic. To kick off this new partnership, FedEx will be hosting an NIL event at the Memphis spring football game on April 24th.

Memphis Athletic Director Laird Veatch expressed gratitude for FedEx’s leadership and support in the realm of name, image