Penny Hardaway Willing to Contribute Up to $2.6 Million to Memphis Basketball Revenue-Sharing
Memphis men's basketball coach Penny Hardaway is willing to pay up to $2.6 million of his own money towards the program's revenue-sharing to help assemble a competitive team.
Evansville, IN, October 13, 2026 —
Memphis men’s basketball coach Penny Hardaway is willing to contribute as much as $2.6 million of his own money toward the program’s revenue-sharing, according to the information provided. The stated purpose is to help assemble a competitive team.
The figure is an upper limit on what Hardaway is willing to pay, not confirmation that he has already contributed that amount. The information does not say whether any payment has been made, how much might ultimately be contributed, or when a contribution could occur.
It also does not provide details about how the program’s revenue-sharing would be allocated, which players or positions might benefit, or how the proposed contribution would fit into the team’s broader finances. No roster moves, agreements, or other steps tied to the willingness to contribute were specified.
The disclosure places Hardaway’s personal funds in the context of the program’s effort to assemble a competitive team, but the information gives no further explanation of the arrangement or its expected effect. It does not identify whether the contribution would be a one-time payment or spread over a period of time.
Other details remain unavailable, including when Hardaway made the commitment, whether it is part of a formal agreement, and whether any additional contributors are involved. The information also does not specify what amount, if any, the program has secured so far. As a result, the reported $2.6 million describes Hardaway’s stated willingness to contribute up to that sum, rather than a confirmed expenditure or a completed revenue-sharing plan.
Story summarized from the original created by Associated Press on www.tristatehomepage.com, see more information here.
