Memphis City Council Approves Transfer of Simmons Bank Stadium to University of Memphis

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The Memphis (Tenn.) City Council on Tuesday voted to gift Simmons Bank Liberty Stadium to the University of Memphis foundation so the school can help fundraise money for necessary renovations. 

According to the local ABC affiliate, the vote allocates $120 million in state funding to the U of M for upgrades and paves the way for a $50 million gift from FedEx founder Fred Smith. 

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