They play in a 62k seat stadium you've probably heard of - the Liberty Bowl...in fact our team has played in a bowl game there.
Also they started playing in 1912 and with the separation of Div I into A & AA (now FBS/FCS) they never have even been a part of FCS level classification let alone DII.
http://football.stassen.com/cgi-bin/records/fetch-team.pl?team=Memphis
The phenomena of using hyperbole or exaggeration to degrade our competition just so that we can further insult our own team that so many on this site turn to regularly must have some sort of classification with the psychological societies of the world....