University of Memphis receives its largest donation amount ever from the Frederick W. Smith family

University of Memphis has received its largest gift ever: $50 million from the Frederick W. Smith family, which will be used to make significant upgrades and renovations to the Simmons Bank Liberty Stadium, the home of the university’s Memphis Tiger football team. Memphis Athletics will be heading a campaign to match the family’s challenge gift.

According to an article on University of Memphis’ website, speaking on behalf of the Smith family, Richard W. Smith said of the gift, “The upgrade and modernization of this community’s two most important sports venues, FedExForum and the Liberty Bowl, is of paramount importance to the future of FedEx's headquarters city. In the same vein, increasing the attractiveness of Memphis as an entertainment destination around FedExForum and the Liberty Bowl both is essential for economic growth and increased employment. Tourism is our second largest industry after logistics, and this will help to drive additional activity and development here in our home city. We strongly believe Memphis’ future is tied to their success.” The Frederick W. Smith family is headed by the founder of FedEx.

In addition to the $50 million from the Smith family and the hopeful future amount of another $50 million raised by Memphis Athletics, a Memphis City Councilman is, pending council approval, allocating $120 million in grant funding to go toward the renovations, bringing the total up to $220 million.

Mayor Jim Strickland commented on these developments, saying, “As a Tiger fan and UofM graduate, I could not be happier that we are able to make this happen. With these renovations, the stadium will receive much needed upgrades, and this puts the University in an excellent position as they continue to work towards entrance into a power five conference. Thanks to the State of Tennessee for its contribution, and thanks to both the UofM and Grizzlies teams for their cooperation as we have worked through this process.”

Dr. Bill Hardgrave, the president of University of Memphis, expressed his deep gratitude to the Smith family: “We truly appreciate the Smith Family for recognizing the strength of our University and athletic programs and wanting to help continue our momentum for the betterment of our entire City. Their substantial gift will help us chart the course of not just our football program, but our entire University, as we look to ascend nationally. We are grateful for the leadership of Mayor Jim Strickland and the City of Memphis in securing state funding for our City’s sports venues, and we appreciate the City’s ongoing partnership as we navigate this potential game-changing opportunity for our University.”

For more information about the planned renovations, visit the Athletics website.

For more information about University of Memphis in general, visit the school’s website.