FedEx Commits $25 Million to University of Memphis Student-Athletes in Landmark NIL Deal

MEMPHIS, Tenn. (TN Tribune) – FedEx Corp. (NYSE: FDX) announced an NIL (Name, Image and Likeness) program benefiting University of Memphis student-athletes. FedEx will invest $5M per year for the next five years in University of 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. FedEx, whose world headquarters is located in Memphis, is introducing the NIL model at its hometown university to further bolster its longstanding relationship with the University of Memphis athletic department. With support from national industry experts Altius Sports Partners, this NIL activity is part of a robust sports sponsorship portfolio that also includes supporting FedExForum, the FedEx/St. Jude Championships, the Southern Heritage Classic, and the AutoZone Liberty Bowl, all in Memphis. “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...