NBA All Star and USA Olympian Michael Redd of the Milwaukee Bucks signed a $91 million dollar, fully guaranteed, max deal. Hardaway's shoe line remains popular even though he hasn't played in the NBA since 2007. Three Lil Penny dolls were sold to the … The deal represented the first time in NBA history that a second round draft selection received an NBA max contract. In 2012 he became the first player since Michael Jordan to have his shoe line continued after he retired. Shawne Merriman, the 12th overall selection in the first round of the San Diego Chargers in the 2005 NFL draft, received a rookie contract, on an average per year basis, better than the 9th, 10th and 11th overall selections in that draft. More significantly moving forward, Nike has a partnership with Hardaway dating to his time as an NBA star, and his shoe line remains popular today.

Hardaway’s Lil’ Penny campaign is still considered by many to be Nike’s most successful basketball marketing in its long storied history. “This said, we are especially proud of our relationship with the University of Memphis, providing the school’s student-athletes, teams, coaches, and programs with Nike footwear, apparel, and equipment.”. Sources familiar with the negotiations said Hardaway is set to make at least $4.5 million during the initial three-year contract he signed with Memphis. Hardaway is still working under the parameters of the original deal, which is set to expire after the 2020-21 season. Almost 10 years later to the day, and months before Memphis made a splash by hiring Penny Hardaway as its new men’s basketball coach, university President M. David Rudd quietly signed a five-year extension uniting Memphis athletics with Nike through June 30, 2023, according to documents obtained by The Commercial Appeal through an open records request. The second NBA point guard to ever do so was former number 1 overall NBA draft selection, Kyrie Irving of the Cleveland Cavaliers, over two decades later in 2014.

At Memphis, this was the second five-year extension signed with Nike since the original agreement a decade ago. Hardaway reported $80,000 in income for camps and clinics, as well as $91,000 for commercials. Included among the terms of the agreement he signed in 2018 is a provision involving "the renegotiation of the contract after year two." Your California Privacy Rights/Privacy Policy.

And (Hardaway) recognizes that.

(But) with the (coronavirus) crisis we’re going through right now, that needs to circumvent those things. Penny Hardaway first appeared on the big screen when he played the Chicago high school basketball star Butch McRae in the 1994 movie production “Blue Chips, a drama film about basketball, also starring Nick Nolte, Shaquille O’Neal, and Mary McDonnell. More:How much do state's universities earn from apparel contracts? Memphis was coming off an appearance in the men’s basketball national championship game under former coach John Calipari, and Johnson declared the agreement symbolized a “historic” and “very prestigious day for Memphis athletics.” Until then, there was no apparel deal for the entire athletic department. Its new eight-year contract is reportedly worth at least $24 million and could be as much as $30 million with incentives. Penny Hardaway and Nike’s partnership dates back to his days as an NBA All-Star, but the value of the deal is unknown. The new agreement is comparable to the six-year, $12.16 million deal Boise State recently reached with Nike that begins in July 2019. Memphis men's basketball coach Penny Hardaway's three-year contract is worth at least $4.8 million and includes lucrative incentives based on …

Last December, around the same time Memphis came to terms on its new deal with Nike, the University of South Florida agreed to switch from Under Armour to Adidas. © DEAL, LLC All Rights Reserved  •  Site Credits. Three Lil Penny dolls were sold to the public: a Lil’ Penny talking doll featuring the voice of comedian Chris Rock and two other smaller Lil’ Penny toy dolls, one wearing a smoking jacket and the other an Orlando Magic basketball jersey. Charles Woodson makes cover of video game, Blitz - Gameboy Advanced. Julian Peterson, the 16th overall selection of the San Francisco 49ers in the 2000 NFL draft, received a 6 year rookie contract, which voided to 4 years upon the satisfaction of certain performance incentives. This deal made McKenzie the highest-paid right tackle in the NFL. Jordan had been No. So, it’s just not an appropriate time to address that, especially given the state of our economy and what’s going on in the city and our institution. Last year, for instance, the University of Connecticut signed a six-year contract with Nike that is reportedly worth $32.45 million. The Memphis contract is also worth more than what other American Athletic Conference schools such as Houston ($1.3 million annually, according to the Portland Business Journal) receive from Nike. In the “Money” section of USA Today, April 9, 1996, Penny Hardaway’s marketing was rated number 1 as he became most popular athlete ranked by teens in a study which was released by research firm Teenage Research Unlimited. Also in 2015, the University of Cincinnati increased its annual financial windfall by more than $2 million when it switched from Adidas to Under Armour and signed a 10-year, $47 million contract. As a 3rd round pick in the 2017 NFL draft, Jourdan Lewis received a first round endorsement contract from Adidas. Henderson received a 5 year, $25 million dollar deal from the Minnesota Vikings. The school’s apparel deal is separate from Hardaway’s individual sponsorship agreement with Nike. “The good thing is we know we have a coach we really want, and he really wants to be here.”. Anfernee “Penny” Hardaway’s kicks cracked necks, helped people see beyond the Jumpman, and introduced Foamposite — Nike’s solid but light material — to the streets and the hardwood. In addition, the University of Memphis Board of Trustees chairman, FedEx CFO Alan Graf, is a member of Nike’s Board of Directors. Working closely with Nike’s creative advertising agency, Widen and Kennedy, a book was published about Hardaway’s life and that of his alter ego, Lil’ Penny. But a stipulation in the deal stated that figure would drop to $400,000 if Calipari left. In June 2018, Memphis agreed to a five-year extension worth $11.25 million that will keep Nike as the university’s exclusive shoe and apparel provider for all sports teams through the 2022-23 season. A Nike spokesperson wrote in an email that the company could not comment on any potential benefits Hardaway’s hiring might have for the university. SUBSCRIBE NOW As low as $49 for one year. The financial terms of Hardaway’s agreement with Nike are unknown, but he was allowed to keep his individual sponsorship with Nike after Memphis hired him in March.

What four faces would be on a Memphis sports Mount Rushmore? We are honored to remain a part of the Nike family.". This new 5-year agreement is a very strong statement on the relationship we are building together and the future for Tiger athletics. Kellen Winslow, II, the 6th overall selection of the Cleveland Browns in the 2004 NFL draft, not only became the highest paid rookie tight end in NFL history, but also became the highest paid tight ever in the NFL with this record breaking rookie contract.

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