Fred Smith, the founder of FedEx Corp. and a notable financier of various sporting endeavors, has died at the age of 80, his company announced Sunday.
Smith, a Marine Corps veteran who served in Vietnam, attended Yale, and began the shipping company that became synonymous with his hometown of Memphis, was an avid financial contributor to sports teams, venues and events throughout the world.
FedEx has been a naming sponsor of such events as the Orange Bowl, the St. Jude Championship and the FedExCup (the PGA’s season-long championship) on the PGA Tour.
“The PGA TOUR is saddened to learn of the passing of Frederick W. Smith the visionary of FedEx who led every day with tremendous character and values,” PGA Tour commissioner Jay Monahan said in a statement. “FedEx has been a tremendous partner for nearly 40 years, and its influence on our sport through tournament sponsorship and its involvement from day one of the FedExCup has been monumental.
“Fred and his company made significant contributions to the growth and popularity of PGA TOUR golf, and the TOUR continues to benefit from his and FedEx’s influence, which will be felt for generations to come. We mourn the loss of a legendary business leader and philanthropist and offer our condolences to his family.”
In addition to title sponsorship of events, the company under Smith’s leadership has attached its name to the former FedEx Field in Washington (home of the Commanders) and the FedExForum in Memphis. The University of Memphis and Memphis Grizzlies play their home games in the arena.
“Fred Smith has been a driving force in the Memphis community since day one, and his endless contributions as a civic leader and corporate citizen are a part of an incredible legacy that will be remembered in our community and country forever,” Grizzles owner Robert Pera said. “He will be deeply missed.”
Beyond naming rights, Smith and FedEx have been active in sponsoring the NFL, the UEFA Europe League, the ATP Tour, Joe Gibbs Racing among other racing sponsorships and rugby’s Heineken Cup.
A noted financial contributor to the University of Memphis, Smith provided a gift of $50 million to the school in 2023 to help renovate the school’s football stadium, Simmons Bank Liberty Stadium, the school’s largest received gift in its history.
“We are deeply grateful to Fred Smith and his family for their unwavering support of Memphis athletics,” Memphis director of athletics Ed Scott said. “Our thoughts and prayers are with his loved ones, including the entire FedEd family, during this difficult time.
“Without his foresight and extraordinary generosity, neither Memphis athletics nor the City of Memphis would be what they are today.”
–Field Level Media
