The debate over the Washington Redskins’ team name has been raging for years, but up to now, team owner Daniel Snyder has been adamant that he’ll “never” change the name. His stance, if he chooses not to budge, may soon begin to cost him financially.
It was reported on Wednesday by AdWeek that a group of investment firms and shareholders worth a collective $620 billion wrote joint letters to FedEx, Nike and PepsiCo, urging the companies to cut ties with Snyder’s team unless its name is changed. Just one day later, FedEx – which signed a 27-year, $205-million naming rights deal to the Redskins’ stadium in 1999 – acknowledged in a statement to ESPN that it has formally requested that the Redskins’ name be changed.
Via ESPN:
“We have communicated to the team in Washington our request that they change the team name.”
The team name is also proving to be a roadblock to a potential relocation inside Washington D.C. Federal officials recently stated that Snyder will not be allowed to construct a new venue at the RFK Stadium site unless the name is changed.
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