Report: Penny Hardaway Willing to Contribute Up to $2.6 Million to Memphis Basketball
Memphis men's basketball coach Penny Hardaway is reportedly willing to spend up to $2.6 million of his personal funds to contribute to the program's revenue-sharing total, aiming to ensure a competitive team.
Albany Schenectady Troy, NY, October 13, 2026 —
Memphis men’s basketball coach Penny Hardaway is reportedly willing to contribute up to $2.6 million from his personal funds to the program’s revenue-sharing total. The stated aim is to help ensure the team remains competitive.
The reported amount is a maximum, not a confirmed payment. The information provided does not say whether Hardaway has made a contribution, when any payment might occur, or what conditions could apply. It also does not identify the source of the report or provide a statement from Hardaway or the university.
The account describes the proposed funds as a contribution to the program’s revenue-sharing total. It does not explain how that total is calculated, how funds would be distributed, or which players or other members of the program might benefit. No separate details about the program’s overall revenue-sharing arrangements were provided.
Hardaway’s reported willingness to use personal money connects his role as coach with the program’s effort to field a competitive team. However, the available information does not establish how much, if anything, he ultimately will contribute or what effect such a contribution would have on the roster. The timing of the reported proposal and any next steps were not provided.
Further details—including whether the offer has been formally made or accepted—were not included in the information available. The reported figure should therefore be understood as an amount Hardaway is said to be willing to spend, rather than a confirmed expenditure.
Story summarized from the original created by Associated Press on www.news10.com, see more information here.