NBA legend Penny Hardaway has revealed he invested $2.6 million of his own cash to pay his players via NIL in his role as Memphis head coach.Hardaway, a four-time NBA All-Star with the Orlando Magic in the 1990s, returned to his alma mater in 2018.He made an immediate impact in recruiting by delivering the No.1 class in the country but the introduction of NIL money to college sports has entirely changed the dynamic in recent years.Hardaway has led the Tigers to the NCAA Tournament three times, most recently in 2025 after winning the AAC Tournament. But they missed out on March Madness this year, prompting Hardaway to dig into his own pocket to improve his roster ahead of the new college basketball season.Speaking at AAC Media Day, the 55-year-old revealed: ‘We had $5 million, and then I had to put $2.6 million of my own money in to try and build the roster up. Penny Hardaway revealed he has put $2.6M of his own money into the Memphis NIL collective Hardaway is entering his ninth season as Tigers head coach and wants more talent to compete’To be able to be competitive enough to get to a Sweet 16. Because you still got to go through conference, win a conference championship.’Even if you win some P4 games, if you lose one game in conference you drop 19 spots in our conference. It’s so different.’And the old Memphis was before NIL where you could go out and recruit the top guys. I had two number one recruiting classes in the first four years, over Duke, over Kansas, over Kentucky.’Now that the money value is there, it’s a big difference. But we’re still shooting for the same things.’ The Tigers finished 13-19 last season with an 8-10 record in the AAC Conference to miss out on the NCAA Tournament.With Hardaway’s own investment, he revealed their NIL collective is up to $9 million and insisted the school did not pressure him to do so. ‘They didn’t ask me to do it, they were saying if you want more money, you have to put your money in. So I did,’ Hardaway told Jason Munz of the Commercial Appeal. ‘I didn’t want to fail two years in a row, because I already know what that means for me. Because it’s already like the death sentence for me from so many different people, which is hilarious.’ Hardaway’s team missed last year’s NCAA Tournament and is now looking to bounce back Hardaway was a superstar for the Orlando Magic during the 90s and a four-time NBA All-StarHardaway’s team was picked to finish second in the American Conference Preseason Coaches’ Poll, while two recent transfers have been tipped as All-Conference players.The Tigers’ new-look roster now boasts 13 newcomers including nine Division 1 transfers, with seniors Jayden Reid and Tylik Weeks, transfers from Northwestern and Southern Miss respectively, receiving preseason recognition. Hardaway enters his ninth season as Memphis head coach with a 175-87 record including being 93-48 in conference play.