Apr 20, 2024
FedEx will be making a different kind of local shipment during the college sports season.
The e-commerce and transportation company announced on Friday it will send the University of Memphis $5 million per year for the next five years in a corporate NIL deal that is believed to be the first of its kind.
“This is a massive example of what NIL was intended to be and can be, but it’s done the right way with the right kind of infrastructure from a Fortune 50 company to hometown student-athletes,” Memphis athletic director Laird Veatch told The Memphis Commercial Appeal. “Really, I don’t think there’s another deal that we’re aware of that is this size or the scope across multiple programs and across multiple years.”
Source: Front Office Sports