Amid pressure from investors, FedEx asked the Washington NFL franchise to change its nickname.
"We have communicated to the team in Washington our request that they change the team name," a statement from the company read, per ABC 7 News in Washington, D.C.
FedEx paid $205 million for the naming rights to Washington's stadium in November 1999.
AdWeek's Mary Emily O'Hara reported Wednesday that a group of 87 investment firms had written three letters to Nike, FedEx and PepsiCo asking the companies to sever their business ties with Washington unless the team dropped its current moniker.
Frederick Smith, who founded FedEx in 1971 and is the company's CEO, is also a member of Washington's ownership group.
The implications of Thursday's statement were obvious given FedEx's connections to Washington:
Grant Paulsen @granthpaulsen
The report that FedEx has asked the Redskins to change their name is massive. Feels like a major turning point in this ongoing story. Not just because sponsorship money talks and FedEx is a massive team spomsor but their CEO is one of Dan Snyder's minority ownership partners.
As Americans continue protesting against systemic racism and social inequality, the team has taken steps to rectify one problematic aspect of its history.
Washington was the last NFL team to integrate, with founder George Preston Marshall steadfastly refusing to add a Black player to the roster. Marshall finally did so after the Kennedy administration intervened on the matter. Bobby Mitchell arrived ahead of the 1962 season.
Replacing the nickname, which critics argue is racist, has been a nonstarter for team owner Daniel Snyder, however.
"We'll never change the name," Snyder said to USA Today's Erik Brady in 2013. "It's that simple. NEVER — you can use caps."
His stance hadn't changed when interviewed by ESPN's John Barr in 2014.
"It's just historical truths, and I'd like them to understand, as I think most do, that the name really means honor, respect," Snyder said of the nickname's lineage.
FedEx's sponsorship deal with Washington averages out to almost $7.6 million annually. Were that deal suddenly in jeopardy, Snyder might finally have a change of heart.