College Football Program Receives Multi-Million Dollar Investment From Fortune 500 Company

The power of the dollar means more than ever for college football programs in the NIL era. Boosters have been replaced by full-on NIL collectives affording financial opportunities for student-athletes across college sports. Funding can come from individual donors in the case of the Colorado Buffaloes’ newly launched 5430 Collective to multi-million dollar jackpots from Fortune 500 companies, like what just happened between the Memphis Tigers its hometown multinational conglomerate holding company FedEx.

“The agreement calls for FedEx to spend $5 million annually across five years. Dollars have been appropriated for football, men’s and women’s basketball and other women’s athletic programs, however, how NIL dollars are dispersed is unclear,” On3’s Pete Nakos reported on Friday.

Nakos reports that the $25 million deal comes with a 50% fundraising match clause opening the door for an additional $12.5 million in donations over the five-year span. The Memphis Athletic Department and FedEx both celebrated the partnership on X.

"This $5 million per year commitment by FedEx is a game-changing opportunity for our student-athletes! An innovative NIL initiative rooted right here in the 901?" Memphis Tigers posted on X.

The involvement of a company ranking as high No. 41 on the Fortune 500 list sets a new standard for the type of donors athletic departments might try to attract going forward.

Related: Deion Sanders Issues Enthusiastic Statement On New Colorado Buffaloes NIL Alliance