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FedEx, a key corporate sponsor for the Washington Redskins, asked the NFL franchise to change its name after being pressured by a group of investment firms that argued it is racist, the company said Thursday.
“We have communicated to the team in Washington our request that the team be renamed,” FedEx said in a statement to FOX Business.
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A FedEx representative did not return a request for comment on whether the company would consider ending its business relationship with the Washington franchise if it does not comply. A Redskins representative did not immediately respond.
The request came a day after AdWeek reported that a group of 87 investment firms sent letters to three key team sponsors: FedEx, Nike, and PepsiCo. In the letters, companies were asked to put pressure on Washington team officials to change the name and cut ties to the organization if it did not comply. Investment firms have a combined value of $ 620 billion.
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Native American groups have long argued that the Redskins team name and mascot are racist. Redskins owner Dan Snyder said for years that he would never change the name.
In 1999, FedEx became the name rights partner of the Redskins’ home stadium in a 27-year deal worth $ 205 million. FedEx President and CEO Fred Smith has a stake in the ownership of the NFL franchise.
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Snyder is trying to build a new stadium for the franchise on the site of the RFK stadium, which is located on federally owned land. Washington, DC, lawmakers warned that the stadium project cannot go forward unless the team’s name is changed.
“There is no viable, local or federal, path for the Washington soccer team to return to Washington, DC, without first changing the team’s name,” Deputy Mayor John Falcicchio told the Washington Post.
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