BREAKING: Power Forward Damarien Yates Signs Three-Year, $91 Million Max Extension With Memphis Tigers
In a monumental moment for the University of Memphis basketball program, star power forward Damarien Yates has officially signed a three-year, $91 million maximum contract extension, solidifying his future with the Memphis Tigers and signaling the program’s serious intent to compete at the highest level of collegiate athletics.
Yates, a 6-foot-9 powerhouse and fan favorite, made the announcement via social media Tuesday morning, posting a photo in Tigers gear with the caption: “Home. Loyalty. Legacy. Let’s finish what we started.”
The extension — an unprecedented move in the new era of NIL (Name, Image, and Likeness) agreements — is being facilitated through a groundbreaking financial package supported by top Memphis boosters, national brand endorsements, and a new NIL collective known as Tiger Legacy Fund. While traditional contracts aren’t binding within the NCAA, this structured NIL deal mirrors the stability and compensation of professional contracts, marking a new frontier in college athletics.
A Transformative Player
Yates, 20, has been a transformative figure for the Tigers since his breakout freshman season. Last year, he averaged 21.4 points, 9.7 rebounds, and 2.3 blocks per game, earning AAC Player of the Year honors and leading Memphis to the Sweet Sixteen.
Projected by many to be a lottery pick had he declared for the NBA Draft, Yates shocked the basketball world in April when he announced he would return to Memphis for another run. Tuesday’s extension confirms that decision was backed by both a desire to win and the resources to stay.
“Memphis believed in me when no one else did,” Yates said in a statement released through the university. “This is bigger than basketball. I want to bring a championship to this city and show that staying in college can be just as powerful as going pro.”
A New Era for College Hoops
The $91 million figure, spread across three years, includes base NIL compensation, performance incentives, personal endorsements, and community engagement partnerships. It also positions Yates as the highest-paid college basketball player in the nation — a landmark deal that is expected to reshape conversations about amateurism, recruitment, and athlete retention across the NCAA.
University of Memphis Head Coach Penny Hardaway praised the extension:
“Damarien is a once-in-a-generation talent, but what makes him special is his heart, his humility, and his loyalty to this city. He’s not just building his legacy — he’s rewriting the script for what’s possible in college basketball.”
Memphis on the Rise
With Yates locked in for three more years, the Tigers instantly become a national title contender. The return of Yates, combined with a top-5 recruiting class and several high-profile transfers, gives Memphis its most formidable roster since the John Calipari era.
Local businesses and fans erupted with support following the announcement, with billboards popping up across the city reading “DY91 — The Dynasty Begins.”
The Tigers open their 2025–26 season this November at FedExForum in a nationally televised showdown against Duke — a game that now carries even greater significance with Yates at center stage.
