FedEx pledges $25 million over 5 years in NIL program for University of Memphis athletes

MEMPHIS (AP) — FedEx has pledged $25 million over the next five years to be used in sponsorship deals with University of Memphis athletes. The program is a huge boost for the school’s name, image and likeness compensation efforts. The Memphis-based shipping giant says the program will initially focus on football, men’s and women’s basketball and other women’s sports. The deal was facilitated by Altius Sports Partners, a company that works with dozens of schools on NIL activities. The deal is for $5 million per year. The Tigers compete in the American Athletic Conference.