FedEx innovating in NIL space

Since the legalization of NIL agreements for college athletes to capitalize on their revenue potential, several Group of Five programs have had to devise innovative strategies to stay competitive with powerhouse programs that possess larger donor bases and networks to assist in funding NIL endeavors.

One notable Group of Five program poised to benefit significantly is set to receive a substantial financial boost, as Memphis-based FedEx has announced its intention to launch an NIL program benefiting student-athletes at the University of Memphis. The company plans to invest $5 million annually for the next five years in Memphis student-athletes who will promote FedEx initiatives, focusing initially on football, men's and women's basketball, and other women's sports.

Brian Philips, EVP & CMO at FedEx, expressed, “We examined the changing landscape of NIL, exploring ways to provide positive opportunities for student-athletes and link them to meaningful prospects for themselves and the community. Subsequently, we opted to reallocate marketing resources to an NIL platform. This enables us to support talented young athletes in our beloved Memphis, reinforcing our bond with the next generation of leaders.”

The inaugural NIL venture by FedEx was unveiled during Memphis' spring game on April 20, featuring a pre-game tailgate event. Laird Veatch, Vice President and Director of Intercollegiate Athletics at the University of Memphis, lauded FedEx's leadership and vision in this realm, highlighting the increasing significance of NIL opportunities in the student-athlete landscape. He expressed confidence that substantial corporate backing for NIL initiatives, exemplified by this groundbreaking commitment from a globally renowned company, will encourage others in Tiger Nation to recognize the value of investing in student-athletes and join the mission by providing further support.