Penny Hardaway donates 2 point 6 million dollars to Memphis basketball revenue share

Memphis Tigers head coach Penny Hardaway announced at the American Conference media day in Tampa that he is contributing $2.6 million of his personal salary to the team revenue share. CBS Sports reported that Hardaway confirmed the donation at the event on Monday. CBS Sports, Fox News, and the Daily Mail all report that the head coach made the decision to help fund player revenue sharing and roster building. [1][2][3]

Fox News reported that Hardaway earns a $2.9 million annual salary in his ninth season leading the program, meaning the contribution represents the vast majority of his pay. According to CBS Sports and Fox News, the $2.6 million addition brings the total revenue share for Memphis to $9 million for the 2026-27 season. CBS Sports reported that Hardaway made the donation voluntarily after being told he needed to put his own money in if he wanted a larger roster budget. [1][2]

Hardaway played college basketball at Memphis before playing 14 seasons in the National Basketball Association, where he was a four-time All-Star for the Orlando Magic. He returned to coach his alma mater in 2018. The Daily Mail reported that Hardaway is working to turn Memphis back into a contender after missing the NCAA Tournament last season. [3][4][7]

The donation makes Hardaway the latest college basketball coach to give back salary money to support team revenue sharing. According to Fox News and CBS Sports, Hardaway told Jason Munz of the Memphis Commercial Appeal that he took the step because he did not want the program to fail. [1][2]