The Univ. of Memphis' agreement to join the Big East Conference "doesn't bind FedEx to sponsor league events -- but it doesn't go unmentioned, either," according to Kyle Veazey of the Memphis COMMERCIAL APPEAL. A clause on the sixth page of the school's agreement with the conference requires UM to "use best efforts to cause FedEx Corporation to provide the Conference with appropriate levels of sponsorship, advertising and similar commitments." FedEx Exec VP & CFO Alan Graf said that the company had "no agreements or contracts with the league." But Graf added that the company, which "aggressively markets itself in sports, would explore sponsorship opportunities." Veazey wrote the Big East's annual basketball tournament and a conference championship football game, which "begins in 2015, are prime real estate." Meanwhile, the agreement stipulates that should UM "want to get out of the contract," the school can do so as long as it pays $5M, "due in full the day they notify the league." But if the Big East's total revenue in the prior fiscal year "drops 25 percent or more, the Tigers would only owe $1 million" (Memphis COMMERCIAL APPEAL, 2/12).
