'%20x='0'%20y='0'%20height='100%25'%20width='100%25'%20%0A%20%20%20%20%20%20%20%20%20%20xlink%3Ahref='data:image/jpg;base64,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'%3E%3C/image%3E%3C/svg%3E)
Fans have reacted to FedEx making a significant commitment to name, image, and likeness efforts with University of Memphis athletics. The logistics company made the announcement on Friday that it's pledging $25 million over the next five years to support Memphis' NIL initiatives.
The company is headquartered in Memphis, Tennessee and it’s no surprise why the university was its choice. This move is considered groundbreaking in the realm of NIL, as it's believed to be the first corporate sponsorship specifically targeting an entire athletic department.
The development has led to a series of reactions among fans of college athletics. A couple of fans believe the Tigers are getting the financial infusion they deserve in college sports. Others used the opportunity to call out FedEx's competitors and other brands to follow suit.
Let’s take a look at some of the reactions online:
A cross-section immediately called out UPS, FedEx's biggest competitor in the United States:
“Hey UPS you have 24 hours to respond to push Louisville athletic to another level,” a fan wrote.
“You listening UPS!!!!,” another fan commented.
Some fans, though, criticized the move by FedEx at a time it should focus on its workers:
“FedEx committing 25Mil into a college but not they workers is crazy to me,” a fan wrote.
“I live in Memphis and have friends who work for FedEx. They just did 2 rounds of layoffs plus more coming but have 25 mil to hand to the UofM. Ever since Fred retired this company has gone downhill,” another fan explained.
Details of the FedEx NIL deal with Memphis
The groundbreaking five-year deal between FedEx and Memphis is worth $25 million. Under the agreement, FedEx will allocate $5 million annually over the course of five years.
These funds will be designated for various purposes within the football, men's and women's basketball and other women's athletic programs at the University of Memphis. However, the specific distribution of the fund has not been revealed by both parties.
Altius Sports Partners, a Memphis-based company, was enlisted to facilitate the deal between FedEx and the University of Memphis athletics department. FedEx EVP and CMO Brian Philips said in a release following the completion of the deal:
“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,”
“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 deal is expected to be the first of many of its kind in the world of college athletics. There’s an expectation that more brands will embark on NIL deals focused on a certain athletic department in the next couple of years.
