Penny Hardaway said Monday in Tampa that he put $2.6 million of his own money into Memphis’ revenue sharing for the 2026-27 season, part of a total package he said sits at $9 million.
At American Conference Media Day, Hardaway told the Commercial Appeal that the Tigers pushed him to get in on the spending if he wanted more resources for the roster.
"They didn't ask me to do it, they were saying if you want more money, you have to put your money in. So I did," Hardaway told Jason Munz of the Commercial Appeal.
"I didn't want to fail two years in a row, because I already know what that means for me. Because it's already like the death sentence for me from so many different people, which is hilarious."
Memphis is coming off a 13-19 season and an 8-10 mark in the American, a finish that kept the Tigers out of the NCAA Tournament for the first time since 2024. The setback added pressure around Hardaway, who had previously taken Memphis to three NCAA Tournament appearances in four seasons before the program’s lowest win total in a single year since the 1999-00 campaign.
The Tigers spent the offseason reshaping the roster, bringing in nine transfers. That group includes Pitt guard Brandin Cummings and Washington State forward Rihard Vavers. Memphis also added four-star guard Fred Smith Jr., who was ranked No. 97 in the 2026 recruiting cycle by 247Sports.
Hardaway’s move fits a growing trend in college basketball, where coaches are increasingly tying their own money to roster-building. DePaul coach Chris Holtmann said at Big East Media Day that he accepted a lower salary in his contract extension so more money could be directed toward revenue sharing.
"Let's change the last couple of years, really for Years 5, 6 and 7, let's change the structure of the contract where I'm making less money," Holtmann said. "I think for me the most important thing is being competitive and in order to be competitive, we need to raise NIL. ...
It was pretty significant that I did that. I told my agent I did it and the AD had agreed to it, and he goes, 'What are you doing?'"
In Other News...
Washington Faces A Tough QB Decision Ahead Of Purdue
Washingtons quarterback situation has turned into one of the bigger questions hanging over the week, with Jedd Fisch saying Demond Williams Jr. is day-to-day after sustaining a rib injury. The Huskies are still waiting on additional imaging and a treatment plan, which leaves the staff in a familiar holding pattern for now as it looks ahead to Purdue.
Elijah Brown is the next name in the conversation after stepping in during the previous game and giving the offense a lift, which at least gives Washington a workable fallback if Williams cant go. Still, with the final call tied to how Williams responds in the days ahead, the Huskies may not get much clarity until closer to kickoff. [Read more 🡒]
Washingtons Quarterback Situation Just Got More Complicated Before Purdue
Washingtons quarterback picture has shifted heading into the Purdue game, with Demond Williams Jr. dealing with a rib injury that left him sidelined in recent days. He is still being evaluated, and the Huskies are trying to balance short-term preparation with the longer view of getting their starter healthy again.
Elijah Brown has taken the first-team reps in practice and is expected to get the nod against Purdue, giving Washington a new look at the most important position on the field. Jedd Fisch has stressed that the focus remains on Williams recovery, and he has not rushed to frame this as anything more permanent just yet. [Read more 🡒]
Washington Suddenly Has A Bigger Problem Than One Ugly Loss
Washingtons 41-24 home loss to Iowa was ugly enough on its own, but the early hole made it look even worse. The Huskies were down 27-3 at halftime after an offense that never found its footing, with little on the ground and almost nothing to slow Iowa from controlling the game on both sides of the ball.
Then came the part that could matter far more than one bad Saturday. Demond Williams left late in the second quarter with an injury, and backup Elijah Brown had to take over in a game where Washington was already chasing. Brown settled things down more effectively than the offense had in the first half, but the bigger question now is whether the Huskies can move forward without their starting quarterback, and how quickly they can get back on track if they cannot. [Read more 🡒]