Story perspectives

Hardaway Agrees to Raise $2.6 Million Revenue Sharing

By Drooid · Oct 14, 2026, 3:04 AM UTC · How we work

Summary

Story summary

Coach Penny Hardaway agreed to raise $2.6 million for revenue sharing.
Athletic director Ed Scott said the university will front the $2.6 million as a loan.
Hardaway seeks $9 million while the revenue-sharing budget totals $6.4 million.
If the $2.6 million isn’t raised by June 2027, Hardaway will cover the deficit.
Hardaway’s salary is $2.9 million per year.

History

Historical Context

The 1984 Supreme Court ruling that ended the NCAA’s TV monopoly let schools negotiate their own deals, spurring the 1995 NCAA contract with CBS and ESPN that paid roughly $2.5 million per member and gave the SEC $2.6 million each to Florida. Those revenue-sharing pressures echo today as Memphis coach Penny Hardaway and AD Ed Scott must raise $2.6 million by June 2027 or risk the coach covering shortfall.

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Story summary

Coach Penny Hardaway agreed to raise $2.6 million for revenue sharing.
Athletic director Ed Scott said the university will front the $2.6 million as a loan.
Hardaway seeks $9 million while the revenue-sharing budget totals $6.4 million.
If the $2.6 million isn’t raised by June 2027, Hardaway will cover the deficit.
Hardaway’s salary is $2.9 million per year.

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