Memphis Tigers Announce Massive NIL Contribution From FedEx

G5 Football Daily Staff | Apr 22, 2024

Memphis' head coach Ryan Silverfield celebrates with his team after they defeated Iowa State 36-26 / Chris Day/The Commercial Appeal / USA

Since the inception of Name, Image and Likeness deals being made legal for college athletes cash in on their earnings potential, several Group of Five programs have had to find creative ways to compete with power programs who boast much larger donor bases and networks to help fund NIL collectives.

One of the most prominent Group of Five programs is set to be the beneficiary of large cash windfall as Memphis-based FedEx announced that they will start an NIL program benefiting University of Memphis student-athletes.

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The company will invest $5 million dollars per year for the next five years Memphis student-athletes who will be promoting FedEx initiatives, with the program initially centered around football, men’s and women’s basketball, and additional women’s sports.

“We evaluated the evolving NIL landscape, exploring how we can best deliver positive impact to student-athletes and connect them to meaningful opportunities for both themselves and the community and made the decision to reallocate marketing funds to an NIL platform,” said Brian Philips, EVP & CMO at FedEx. “This gives us an opportunity to invest in bright, young athletes in our great hometown of Memphis, strengthening our connection to the next generation of leaders.”

The first official NIL initiative by FedEx was held during Memphis’ spring game on April 20 with a pre-game tailgate.

“We are truly appreciative of the vision and support of FedEx’s leadership in this area,” said Laird Veatch, University of Memphis vice president and director of Intercollegiate Athletics. “NIL opportunities have become a crucial facet of the student-athlete dynamic, and we believe major corporate support of NIL will need to be a key part of the future landscape of college athletics. We are confident this groundbreaking commitment by one of the world’s most well-known and successful companies will inspire others in Tiger Nation to realize the power of investing in student-athletes and join the mission with further support.”