Latest news with #BillHardgrave
Yahoo
16 hours ago
- Business
- Yahoo
Memphis proposing lucrative offer to join Big 12, but it lacks support from conference leadership: Sources
Memphis has proposed to the Big 12 a lucrative membership proposal — a serious enough endeavor that league presidents met Monday about the offer — but the proposition is not believed to have the necessary support, for now. The proposal from Memphis — one of the most aggressive membership propositions in college athletics history — features hundreds of millions of dollars in sponsorship commitments to the Big 12 from UM-affiliated corporate partners, as well as the school eschewing revenue distribution from the league for at least five years. Multiple sources spoke to Yahoo Sports under condition of anonymity about the proposal, which is the latest and most serious chapter in the school's effort to move out of the American and into one of the four power leagues. This particular effort began more than a year ago. Memphis president Bill Hardgrave has spent at least 14 months visiting with the presidents and top athletic administrators of many Big 12 schools in individual, on-campus meetings that have culminated in a membership offer to the league that is expected to be as high as $200 million over the next five years. Big 12 officials are in the midst of exploring the proposal, but league-wide support is not there, multiple conference officials told Yahoo Sports.. Any expansion move needs the support of a super majority of the league's presidents and chancellors, or 12 of the 16. A more finalized copy of the Memphis proposal was disseminated among conference athletic administrators in the last few days. Over the last 18 months, the conference seriously explored two expansion proposals, from Gonzaga and UConn, only for each to fail to gain the necessary support. This effort is much more lucrative, but hurdles remain. 'I'm not certain it has enough support,' one Big 12 leader told Yahoo Sports over the weekend. 'We vetted Memphis when we added the other four (Cincinnati, UCF, Houston and BYU) and chose not to add them,' said another Big 12 administrator. 'What's changed now?' However, the proposal was attractive enough to garner weeks of exploration from the conference. It comes at a financially stressful time as Big 12 leaders work to compete against the Big Ten and SEC, both with more lucrative television contracts and revenue distributions. The timing is important. On July 1, college athletics launched into a new era in which schools can directly compensate athletes in a capped revenue-sharing system. The industry has never been in a more money-hungry time. Already, Big 12 schools are receiving roughly $1 million in additional revenue from a sponsorship with PayPal. Memphis' proposal would have increased that by at least $2 million with sponsorship commitments from UM partners. The school is notoriously aligned with partners such as FedEx, Lowe's and AutoZone. Memphis' proposal is described as a 'no-risk' concept, according to some in the Big 12, and it also sets a standard, perhaps, of expansion fees to enter a league. The school would (1) take zero distribution for the final five years of the league's new television deal with ESPN and FOX; (2) add the sponsorships in excess of $150 million over five years; and (3) subject itself to expulsion after 2030-31 if Big 12 deems it is not adding value. The sizable offer represents a historic moment in college sports of a school quite literally purchasing their way into a conference — a move that further expounds upon a precedent set by SMU's entrance into the ACC. While SMU agreed to take no league revenue for a stretch of time in the ACC, the school did not arrange millions in sponsorships for the league. The pricy nature of Memphis' offer speaks to its unwavering desire to elevate to a power conference — something the program attempted to do years ago with the ACC. Under Hardgrave and new athletic director Ed Scott, the school has increased investment significantly over the last several years, with financial help from sponsors like FedEx and Lowe's. In fact, with a massive gift from FedEx coming, the UM officials expect to share the full $20.5 million in rev-share with athletes by next year, they have told Big 12 leaders. Any move out of the American would come with another steep price tag. The American exit fee is expected to be at least $25 million - a similar fee that SMU paid the conference upon its departure last year.
Yahoo
16 hours ago
- Business
- Yahoo
Sources: Memphis proposing lucrative offer to join Big 12, but it lacks support from conference leadership
Memphis has proposed to the Big 12 a lucrative membership proposal — a serious enough endeavor that league presidents met Monday about the offer — but the proposition is not believed to have the necessary support, for now. The proposal from Memphis — one of the most aggressive membership propositions in college athletics history — features hundreds of millions of dollars in sponsorship commitments to the Big 12 from UM-affiliated corporate partners, as well as the school eschewing revenue distribution from the league for at least five years. Multiple sources spoke to Yahoo Sports under condition of anonymity about the proposal, which is the latest and most serious chapter in the school's effort to move out of the American and into one of the four power leagues. This particular effort began more than a year ago. Memphis president Bill Hardgrave has spent at least 14 months visiting with the presidents and top athletic administrators of many Big 12 schools in individual, on-campus meetings that have culminated in a membership offer to the league that is expected to be as high as $200 million over the next five years. Big 12 officials are in the midst of exploring the proposal, but league-wide support is not there, multiple conference officials told Yahoo Sports.. Any expansion move needs the support of a super majority of the league's presidents and chancellors, or 12 of the 16. A more finalized copy of the Memphis proposal was disseminated among conference athletic administrators in the last few days. Over the last 18 months, the conference seriously explored two expansion proposals, from Gonzaga and UConn, only for each to fail to gain the necessary support. This effort is much more lucrative, but hurdles remain. 'I'm not certain it has enough support,' one Big 12 leader told Yahoo Sports over the weekend. 'We vetted Memphis when we added the other four (Cincinnati, UCF, Houston and BYU) and chose not to add them,' said another Big 12 administrator. 'What's changed now?' However, the proposal was attractive enough to garner weeks of exploration from the conference. It comes at a financially stressful time as Big 12 leaders work to compete against the Big Ten and SEC, both with more lucrative television contracts and revenue distributions. The timing is important. On July 1, college athletics launched into a new era in which schools can directly compensate athletes in a capped revenue-sharing system. The industry has never been in a more money-hungry time. Already, Big 12 schools are receiving roughly $1 million in additional revenue from a sponsorship with PayPal. Memphis' proposal would have increased that by at least $2 million with sponsorship commitments from UM partners. The school is notoriously aligned with partners such as FedEx, Lowe's and AutoZone. Memphis' proposal is described as a 'no-risk' concept, according to some in the Big 12, and it also sets a standard, perhaps, of expansion fees to enter a league. The school would (1) take zero distribution for the final five years of the league's new television deal with ESPN and FOX; (2) add the sponsorships in excess of $150 million over five years; and (3) subject itself to expulsion after 2030-31 if Big 12 deems it is not adding value. The sizable offer represents a historic moment in college sports of a school quite literally purchasing their way into a conference — a move that further expounds upon a precedent set by SMU's entrance into the ACC. While SMU agreed to take no league revenue for a stretch of time in the ACC, the school did not arrange millions in sponsorships for the league. The pricy nature of Memphis' offer speaks to its unwavering desire to elevate to a power conference — something the program attempted to do years ago with the ACC. Under Hardgrave and new athletic director Ed Scott, the school has increased investment significantly over the last several years, with financial help from sponsors like FedEx and Lowe's. In fact, with a massive gift from FedEx coming, the UM officials expect to share the full $20.5 million in rev-share with athletes by next year, they have told Big 12 leaders. Any move out of the American would come with another steep price tag. The American exit fee is expected to be at least $25 million - a similar fee that SMU paid the conference upon its departure last year.
Business Insider
19 hours ago
- Politics
- Business Insider
Ghana races to settle $3.6m debt as scholarship students face eviction from US university
Ghana's government is facing mounting criticism following reports that nearly 200 Ghanaian students on scholarship at the University of Memphis in the United States may be displaced due to unpaid tuition fees totalling $3.6 million. Ghanaian government faces criticism for unpaid tuition fees amounting to $3.6 million for scholarship students in the US. Nearly 200 Ghanaian students at the University of Memphis may be displaced due to funding issues. The students, enrolled in STEM and business programs, risk losing campus accommodation by August 2025. University issues August 9 eviction deadline The 185 affected students, who are beneficiaries of a Ghana government scholarship programme, have been asked by the University to find alternative sources of funding or vacate their campus accommodation by 9 August 2025. The students are currently studying science, engineering, and business-related programmes. Dr Bill Hardgrave, President of the University of Memphis, confirmed the situation during an interview with Action News 5's Better Memphis show. 'The students are sponsored by the government from Ghana, which has not paid the students' tuition in some time,' he said. Dr Hardgrave revealed that the amount owed by the Ghanaian government totals $3.6 million, warning that the delay in payment could disrupt the students' education. Dr Hardgrave suggested that political changes in Ghana following the December 2024 general elections might have affected budgetary allocations for foreign scholarships. 'I think there was a regime change in Ghana and that affected the budget, but we're hopeful that gets corrected because we'd love to keep those students on campus,' he added. Students face academic disruption The students now face the grim reality of dropping out and returning to Ghana if urgent steps are not taken. The University of Memphis has reportedly informed them that unless payment is made, they must vacate their residence halls by the stated deadline. With only a few weeks left before the deadline, the educational futures of 185 Ghanaian students hang in the balance, awaiting swift intervention from the Ghanaian government or international benefactors. Without that lifeline, the consequences could be devastating for students who have come so far in pursuit of academic excellence abroad.
Yahoo
6 days ago
- Sport
- Yahoo
NCAA fines Memphis $30K, places it on probation after softball players did hoops player's schoolwork
MEMPHIS, Tenn. (AP) — The University of Memphis' athletic department has been put on probation for two years and fined $30,000 by the NCAA after an investigation found an academic counselor paid two softball players to help a men's basketball player with schoolwork. The NCAA announced the mutually-agreed-to punishment Wednesday, saying in a report that former Memphis academic counselor Leslie Brooks paid two unidentified softball players a total of $550 to provide test answers and complete assignments for an unidentified basketball player during a period from Jan. 25-Feb. 18, 2024. In addition to the fine, Memphis was docked 1% of the combined budget of the men's basketball and softball programs for violating seven NCAA bylaws. The NCAA said the three players involved competed in 20 games while ineligible, and the probationary period begins immediately and runs through July 15, 2027. 'We are pleased to have reached a mutually agreed upon resolution by the NCAA Committee on Infractions and the University of Memphis,' university president Bill Hardgrave said in a statement. 'I would like to thank our staff who worked swiftly and collaboratively with the NCAA to take appropriate action and implement corrective measures. The University of Memphis is committed to a culture of compliance with all NCAA rules and will move our program forward accordingly.' A Memphis athletics spokesperson said the school would not release the names of the players involved. ___ AP sports:
Associated Press
6 days ago
- Sport
- Associated Press
NCAA fines Memphis $30K, places it on probation after softball players did hoops player's schoolwork
MEMPHIS, Tenn. (AP) — The University of Memphis' athletic department has been put on probation for two years and fined $30,000 by the NCAA after an investigation found an academic counselor paid two softball players to help a men's basketball player with schoolwork. The NCAA announced the mutually-agreed-to punishment Wednesday, saying in a report that former Memphis academic counselor Leslie Brooks paid two unidentified softball players a total of $550 to provide test answers and complete assignments for an unidentified basketball player during a period from Jan. 25-Feb. 18, 2024. In addition to the fine, Memphis was docked 1% of the combined budget of the men's basketball and softball programs for violating seven NCAA bylaws. The NCAA said the three players involved competed in 20 games while ineligible, and the probationary period begins immediately and runs through July 15, 2027. 'We are pleased to have reached a mutually agreed upon resolution by the NCAA Committee on Infractions and the University of Memphis,' university president Bill Hardgrave said in a statement. 'I would like to thank our staff who worked swiftly and collaboratively with the NCAA to take appropriate action and implement corrective measures. The University of Memphis is committed to a culture of compliance with all NCAA rules and will move our program forward accordingly.' A Memphis athletics spokesperson said the school would not release the names of the players involved. ___ AP sports:
