MEMPHIS, Tenn. — The new Memphis City Council met for the first time Tuesday, Jan. 9, approving the minutes from a 2023 meeting in which city council members voted to transfer Simmons Bank Liberty Stadium from the city to the University of Memphis, officially approving the transfer.
The city council voted to officially transfer ownership of Simmons Bank Liberty Stadium from the city to the University of Memphis on Dec. 19, 2023, allocating $120 million in state funding to the U of M for upgrades and paving the way for a $50 million gift from FedEx founder Fred Smith.
The resolution to transfer stadium ownership passed, with two council members voting "no" and one abstaining from the vote.
“We are incredibly appreciative of the City Council for sharing our vision and voting to approve this resolution on Simmons Bank Liberty Stadium, which will position our University and football program for sustained success," Memphis Athletics said in a statement. "We look forward to working collaboratively in the coming weeks with the City administration, the Southern Heritage Classic, the AutoZone Liberty Bowl and the USFL to formalize agreements that will set us all up for success into the future.”
The vote means a $50 million gift from FedEx founder Fred Smith, which was contingent upon the university owning the stadium, will be honored and used for stadium upgrades.
After news of the approval Tuesday, the U of M said they will begin a leadership fundraising campaign to match the $50 million gift, which would fully-fund the $220 million project.
Opposition to transferring stadium ownership backs down
The vote came one week after some council members moved to delay the vote - saying they wanted city oversight of the stadium.
Council members like J.B. Smiley and Martavius Jones were among those saying that Mayor Jim Strickland left them out of the loop regarding the resolution, which also includes putting $120 million in state grant funding toward the stadium that is home to the Memphis Tigers and the Autozone Liberty Bowl.
And while council members said they all are in favor of supporting the university, they want time to explore all the city’s options and have their chance to provide input.
Councilman Jones said he wants to make sure all stake holders involved with the stadium have a voice in the process and the contracts for the Liberty Bowl and Southern Heritage Classic will be honored if or when the school takes over.
Members of the U of M were on hand to speak with the committee, reiterating that the $50 million donation from FedEx founder Fred Smith’s foundation is contingent on the school taking control of the stadium.
“We all want to get there, and when we all want to get there, that means we’ll do whatever it takes to get there,” said Ken Moody, the school’s Director of Local Relations and Partnerships. “So I’m confident at the end of the day we’ll get there.”
Tuesday, the motion to add city-led oversight to the U of M's stadium board was withdrawn from the city council agenda without a vote, and the stadium transfer unopposed.
The state funding to renovate the stadium is part of $350 million allocated to the City of Memphis from Tennessee's stadium fund.
