Fred Smith Dies at 80, Former Washington NFL Team Part-Owner Founded FedEx

Fred Smith, the founder of FedEx Corp and a minority owner of the Washington NFL franchise from 2003 to 2021, died at the age of 80, per ESPN.

"The Washington Commanders mourn the passing of Frederick W. Smith, FedEx founder and executive chairman," the franchise said in a statement. "Mr. Smith was a highly respected philanthropist and innovative businessman whose investments once included a minority stake in our team. He also proudly served our country in the US Marine Corps. We send our sincere condolences to Mr. Smith's family and loved ones, as well as our friends across the FedEx organization."

Smith was the father of former Atlanta Falcons coach and current Pittsburgh Steelers offensive coordinator Arthur Smith.

After purchasing a minority share of Washington's ownership under Dan Snyder in 2003, Smith joined Robert Rothman and Dwight Schar in selling their shares in 2021, which made up 40 percent of the franchise. The three minority owners sued Snyder in federal court in November 2020, alleging that he "interfered with a pending sale of their shares to investors willing to pay $900 million for their shares," per ESPN.

Prior to giving up his stake in the team, Smith was in favor of the effort to change the original name of the Washington franchise. FedEx, which owned the stadium naming rights, announced in a press release that it informed the team that it wanted the name changed. The franchise eventually changed its name to the Washington Football Team in 2020 before becoming the Commanders in 2022.

Under Smith's leadership, FedEx has long been a prominent sponsor across most major sports leagues. The company owns the naming rights for the NBA's Memphis Grizzlies' arena, the FedEx Forum, which is also home to the Memphis Tigers basketball team. Per ESPN, the company pledged $25 million over the five years to be used in name, image and likeness sponsorship deals for Memphis student-athletes. Smith's family also donated $50 million for renovations to the school's football stadium, Simmons Bank Liberty Stadium.

FedEx also sponsors the PGA Tour's Memphis-area tournament, the FedEx St. Jude Classic, and has long been the naming sponsor for the Tour's in-season points competition and playoffs, the FedExCup.

"The PGA Tour is saddened to learn of the passing of Frederick W. Smith the visionary of FedEx who led every day with tremendous character and values," PGA Tour commissioner Jay Monahan said in a statement. "FedEx has been a tremendous partner for nearly 40 years, and its influence on our sport through tournament sponsorship and its involvement from day one of the FedExCup has been monumental.

"Fred and his company made significant contributions to the growth and popularity of PGA Tour golf, and the Tour continues to benefit from his and FedEx's influence, which will be felt for generations to come. We mourn the loss of a legendary business leader and philanthropist and offer our condolences to his family."