Penny Hardaway Reportedly Open to Contributing 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 towards the program's revenue-sharing total to help assemble a competitive roster.
Peoria Bloomington, IL, October 13, 2026 —
Memphis men’s basketball coach Penny Hardaway is reportedly willing to contribute as much as $2.6 million from his personal funds toward the program’s revenue-sharing total, according to the information provided. The reported purpose of the potential contribution is to help assemble a competitive roster.
The account describes Hardaway as willing to spend the money; it does not say that he has made a payment or committed a specific amount. The figure is an upper limit, not a stated final contribution. No details were provided about when a contribution might be made, how it would be allocated, or what portion of the program’s revenue-sharing total it would cover.
The information also does not identify the source of the report or provide a statement from Hardaway or the university. It does not specify which players, if any, could be affected by the reported willingness to contribute, or whether the funds would result in changes to the roster. Those details remain unprovided.
As described, the reported willingness to use personal funds is tied to Memphis’ effort to assemble a competitive men’s basketball roster. The account offers no further information about the program’s revenue-sharing arrangements, the total amount involved, or any next steps. Accordingly, the $2.6 million figure should be understood only as the maximum amount Hardaway is reportedly willing to spend, rather than as money confirmed to have been contributed.
Story summarized from the original created by Associated Press on www.centralillinoisproud.com, see more information here.
