Tick-tock, tick-tock, time is running out for Memphis as they are all set to lose their poster boy, PJ Haggerty. Haggerty recently announced his intention to enter the NCAA Transfer Portal. “It’s so enticing, right?” Memphis coach Penny Hardaway had said after the Tigers defeated UAB to win the AAC tournament. The nation’s third-leading scorer gave in and will be playing elsewhere next season. It would be a devastating loss for Memphis, as it will be very difficult to replace a player who impacted games like Haggerty did.

At just 21 years old, Haggerty is a redshirt junior and will be looking for his fourth program in four seasons. After redshirting as a freshman at TCU, he transferred to Tulsa for one season before joining Penny Hardaway’s program at Memphis. There, PJ Haggerty led the team in the offense with the best scoring and assisting stats on the team, whilst also leading in steals per game. A monumental loss for Memphis, but the fact is Haggerty’s $4M demand would be steep for any basketball program in the country.

Long-time college basketball reporter Jeff Goodman revealed on his The Field of 68: After Dark podcast a very surprising fact about the PJ Haggerty situation. “Memphis can’t pay. From what I am told, 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 that type of money.”

FedEx has pledged $25 million over five years to support the University of Memphis’s NIL (name, image, and likeness) program. This money is spread out over five years, which is why it’s surprising to Goodman and many of its supporters that Memphis cannot afford to retain their point man.

Memphis is also losing four other starters, including second-leading scorer Dain Dainja, so Haggerty may have thought it best to move as well.  With an existing NIL valuation of $1.7 million on On3, his financial expectations reflect his status as one of the nation’s top offensive threats. But his $4 million ask is way above what Memphis can currently offer. Still, in addition to the money, there was another condition that made Memphis bow out.

‘$4 million and…”: Two of PJ Haggerty’s impossible demands revealed

PJ Haggerty has made some of the most outrageous demands to his next suitor. After it was confirmed that Memphis can’t afford him, Haggerty’s father went around various colleges and set the base price as $4 million, along with another condition. Haggerty is definitely a player to look out for, but will anyone pay $4 million for him?

Goodman said, “So, Dad goes around and he is talking to these schools, and he is saying we want four, atleast four. Starting point is four. He still thinks it’s still gonna go up from there and he wants to make sure his son plays point guard the majority of the time.” The interesting part is, Haggerty is more of a scorer than a point guard. So, he wants a truckload of money to play in a position he will need to adapt to. Several guards entering the portal further undermine Haggerty’s transfer demands.

The list begins with Jordan Ross from Saint Mary’s. Ross averaged 8.3 points, 3.1 rebounds, and 2.6 assists last season. Haggerty isn’t a top point guard in the country. While he is one of the best players, he averaged 21.7 points with an assist/turnover ratio of 1.12. That number doesn’t attract a top program, even though he led the American Conference in turnovers.

That’s what Goodman said: “But basically a lot of these bigger schools are saying, there’s no way, we are not paying $4 million.”  He further emphasizes that it’s not only the money, saying, “I think part of it is the money; part of it is also the demand to play the point majority of the time. I think it’s 70% of the time is what his dad was asking for.”

Haggerty is, in fact, one of the best in the country, as he basically saved Coach Penny Hardaway’s job, according to many. He led Memphis to a 29-8 season and won the AAC regular-season and conference tournament titles. In fact, there is some precedent for this season for college athletes getting $4 million deals, as Texas Tech star JT Toppin passed on the NBA draft to continue college for another year.

According to Matt Norlander of CBS Sports, Toppin will be paid roughly $4 million in NIL money to remain with the Red Raiders for another season. The extra demand for playing point guard for Haggerty just makes this deal more difficult, and it remains to be seen where he will go for next season.