Liberty Bowl Renovations: FedEx's Fred Smith helps kickstart $220M overhaul with support from Memphis, city council

FedEx founder Fred Smith has gifted $50 million to the University of Memphis in a game-changing move for the Liberty Bowl Memorial Stadium and the city. The donation by Smith is the largest in school history.

The University of Memphis will also match this amount with an additional $50 million. Furthermore, the renovation plans will be supported by an injection of $120 million in state funds. The $220 million will fuel the upgrade and modernization of Liberty Bowl Memorial Stadium and the FedExForum, the indoor sports arena.

The renovation initiative signals an upgrade for Memphis' sports venues. The university is actively participating in transforming the Liberty Bowl Memorial Stadium.

Let’s have a look at some concept photos of the Liberty Bowl Memorial Stadium after renovation:

Image via U of M

Image via U of M

Enter caption

Image via U of M

The Liberty Bowl Memorial Stadium is on the way to a full makeover, riding on the back of FedEx founder Fred Smith's donation. While these funds promise to breathe new life into the stadium, it comes with a minor trade-off — seating will be slightly reduced from 58,000 to approximately 53,000-55,000.

---

Liberty Bowl Memorial Stadium will belong to the University of Memphis

As part of this transformative process, the University of Memphis is set to take ownership of the stadium from the city. The plan is pending City Council approval for now. However, the ownership transfer to the University of Memphis Auxiliary Services Foundation is slated for completion by Dec. 30.

In a press statement, Richard W. Smith spoke on behalf of the Fred Smith Family and said:

"The upgrade and modernization of this community’s two most important sports venues, FedExForum and the Liberty Bowl, is of paramount importance to the future of FedEx's headquarters city.”

Memphis Mayor Jim Strickland hailed the news as a "game-changer" and said:

“As a Tiger fan and U of M graduate, I could not be happier that we are able to make this happen. With these renovations, the stadium will receive much-needed upgrades, and this puts the university in an excellent position as they continue to work towards entrance into a Power Five conference.”

Strickland also highlighted the collaborative effort between the city and the university. He revealed a refined financial plan where the city contributes $120 million, and the university raises the remaining $100 million.

University president Bill Hardgrave couldn’t help but notice the strategic importance of these renovations in the context of conference realignment prospects for the Memphis Tigers (8-3, 5-2 American Athletic Conference). Hardgrave said:

"In my conversations with presidents of these other conferences and commissioners, one of the things that came through time and time again was that our stadium was not where it needed to be.

"And that was why, working with the city, it was incredibly important to look for ways to get the funds to update our stadium so that we look like we belong."

Liberty Bowl's improved aesthetic and functional aspects will pave the way for a more compelling sports experience. As Memphis gears up for this journey, the infusion of funds and ownership changes usher a new era for these iconic sports venues.