Corporate Pressure from FedEx, Amazon, Others Spurs Washington NFL Team to Consider Name Change

Author:
Publish date:
Video Duration:
50

The Washington Redskins NFL team has faced pressure to change its name for decades. But recently—thanks to mounting pressure from corporate sponsors including FedEx and large companies like Amazon, Nike, and Dick's Sporting Goods—the team has announced it is officially reviewing its name.

The word Redskins is considered pejorative against Native Americans.

On July 8, Amazon  (AMZN) - Get Report announced it was pulling Washington Redskins merchandise from its site, and called on all sellers to remove said merchandise within 48 hours.

Related video: Odds released on Washington Redskins' new name

And earlier, FedEx  (FDX) - Get Report—which owns naming rights to the team’s home stadium in Maryland, near Washington D.C.—called on the team to rebrand itself. PepsiCo  (PEP) - Get Report, also a Redskins sponsor, called on the team to reconsider its name.

“We have been in conversations with the NFL and Washington management for a few weeks about this issue. We believe it is time for a change. We are pleased to see the steps the team announced today, and we look forward to continued partnership," PepsiCo said in a statement.

Related video: Dan Snyder Started a Foundation to Support Native Americans. Has It Abandoned Its Mission?

Nike  (NKE) - Get Report, Walmart  (WMT) - Get Report, Target  (TGT) - Get Report, and Dick’s Sporting Goods  (DKS) - Get Report are also no longer selling Redskins apparel.

These companies put economic pressure on the NFL, which had nearly $16 billion in revenue in 2019.

Watch More Videos From TheStreet and Jim Cramer: