Memphis’ roster budget may be set at $9 million, but the school says Penny Hardaway is not handing cash directly to players.
That was the key clarification from athletic director Ed Scott after Hardaway was reported to have put $2.6 million of his own money toward building the Tigers’ team. Scott said the university is operating under a different setup: Memphis is paying players now, and Hardaway has agreed to help cover any fundraising shortfall by the end of the fiscal year.
The distinction matters. A coach writing a check that goes straight to players would run into problems under the settlement-era revenue-sharing rules, and Scott made clear Memphis is not doing that.
According to Scott, Hardaway originally wanted $9 million available to build a roster good enough to reach the Sweet 16. Memphis could commit $6.4 million, which Scott said was an increase of $1.4 million from the previous season. Hardaway then said he believed he could raise the other $2.6 million, and the school agreed to move forward with the full $9 million based on the expectation that the goal would be met by the end of the fiscal year.
Hardaway also told Scott he would personally make up whatever amount he could not raise.
The money flow, as Memphis describes it, is straightforward enough: players are being compensated by the university now, and if Hardaway later makes up a fundraising gap, that money would arrive after those current player contracts have expired. In other words, it would not be distributed to the players on this roster.
That leaves the original reporting in a more precise light. Hardaway’s willingness to chip in is still part of the story, but Memphis says he has not paid players directly and has not written a check that the university then turned around and used for player compensation.
The backdrop here is a Memphis program trying to climb out of a rough season. The Tigers finished 13-19 in 2025-26, their first losing record since 1999-2000, according to the Commercial Appeal. Hardaway is now working to rebuild the roster and get Memphis back into the NCAA Tournament conversation.
It’s also a glimpse at how schools are adjusting to the new revenue-sharing landscape. Memphis is setting and managing the budget, while fundraising pledges help determine how far that spending can go.
The accounting is clearer now. The pressure to turn it into wins is still very much there.
In Other News...
Memphis Gets A Rare National Showcase Before A Big Thursday Night
Memphis is getting an unusual bit of national attention on Thursday, with ESPNs SportsCenter on Campus set to go live from Tiger Lane before the Tigers meet East Carolina at Simmons Bank Liberty Stadium. The half-hour broadcast window comes in the buildup to a 6:30 p.m. kickoff, and the game itself will be shown nationally on ESPN2, giving the program a stage it does not often get.
The setup around the stadium is designed to match the moment, with tailgating, a kids zone and a community-minded partnership with the DeAngelo Williams Foundation tied to Breast Cancer Awareness and Health Care Appreciation. For Memphis, it is the kind of rare weekday showcase that can turn an ordinary Thursday into something bigger, even before the first snap is taken. [Read more 🡒]