Penny Hardaway Contributes $2.6 Million to Memphis Basketball Revenue Sharing

Penny Hardaway, the head coach of Memphis basketball, announced at the American Conference Media Day in Tampa that he has personally contributed $2.6 million to the team's revenue sharing for the 2026-27 season. This contribution is part of a total revenue-sharing amount of $9 million for the season.

Hardaway explained that he made the donation to enhance the team's financial resources, stating that it was suggested he invest his own money if he wanted to secure additional funds. The Tigers, who finished last season with a record of 13-19 and missed the NCAA Tournament, have been under pressure to improve their performance.

This offseason, Memphis has actively restructured its roster, acquiring nine transfers and a highly ranked recruit, Fred Smith Jr. Hardaway's financial commitment reflects a growing trend among college coaches, with others like DePaul's Chris Holtmann also redirecting personal funds to support their teams' revenue sharing initiatives.