“Initial thought was $5 million”: NCAA analyst spills details around PJ Haggerty’s affordability after Memphis’ star entered the transfer portal

NCAA analyst Jeff Goodman shared the details surrounding PJ Haggerty’s entrance into the transfer portal on Thursday. On Monday's episode of the "Field of 68," Goodman assessed Haggerty’s situation. The Memphis star led the team to a 29-6 record last season.

According to Goodman, the financial stakes around Haggerty are high. Speaking on the situation, Goodman revealed that the initial asking price for Haggerty’s next destination was $5 million.

“So the initial thought was $5 million for PJ Haggerty,” Goodman said. “His dad is repping him and calling around, and the initial ask was five million. And I get it. He’s thinking, ‘Hey, my kid’s an All-American. JT Toppin just got four million, why can't my son get more?’ And he’s not wrong in some respects.”

Haggerty averaged 21.7 points, 5.8 rebounds and 3.7 assists while shooting 47.6% last season. The guard is in the middle of an expensive transfer conversation. Goodman also noted that Memphis simply did not have the financial resources to meet those demands.

“From what I’m told,” Goodman said. “They do not have the money, believe it or not. Which is shocking to me, with all that FedEx money, they don't have the money to pay PJ Haggerty.”

As the story spreads, big-name programs across the country are reportedly backing away due to the steep asking price.

“A lot of these bigger schools are saying there’s no way,” Goodman said. “Whether it’s St. John’s, Baylor, Indiana, Kansas, Florida, all of them are out at that asking price.”

PJ Haggerty was third in the country in average points. After playing only six games for TCU during the 2022-23 season, Haggerty increased his game minutes after transferring to TLSA, where he averaged 21.2 points in 31 games. He subsequently transferred to Memphis for the 2024-25 season, scoring 21.7 points per game in 35 appearances.

Penny Hardaway keeps door open for PJ Haggerty’s return amid uncertainty

Memphis coach Penny Hardaway held out hope that star guard PJ Haggerty may still return to the Tigers, even after the All-American entered the transfer portal. Haggerty appeared to have shocked Tiger fans by entering the portal on April 17.

With two years of eligibility left, he is reportedly seeking at least $4 million in NIL compensation for the upcoming season.

Hardaway insisted the relationship was still strong and the door was far from closed. Speaking during Memphis’ Blue & Gray Cleanup Day on Tuesday, he expressed his thoughts on the situation.

“I think that he’s really fully focusing on the NBA,” Hardaway said. “But going into the portal, he didn’t close the door on us. We still talk, and still have a great relationship. So, it wasn’t like he said, ‘I’m outta here, I’m gone.’ That’s his right to go into the portal. I respect his decision. We’ve always had a great relationship.”

Hardaway echoed the sentiment that he had not closed the door either. Hardaway is actively working to rebuild Memphis’ roster. The Tigers have secured several Division I transfers, including Quante Berry, Ashton Hardaway, Julius “King” Thedford, Zachary Davis and Sincere Parker.

“It’s very tough,” Hardaway said. “You have to wait, but other players in the portal aren’t waiting. They’re going to go where they’re wanted.”

The coach also voiced concerns about the growing financial demands in college basketball. With other top players like Texas Tech’s JT Toppin reportedly securing $4 million and BYU’s Rob Wright earning $3.5 million, Hardaway questioned the sustainability of the current landscape.