Report: FedEx's Fred Smith, More Attempting to Sell Stake in Washington NFL Team

Adam Wells@adamwells1985Featured ColumnistJuly 5, 2020

President and CEO of Federal Express, Fred W. Smith, is shown in January 1993. (AP Photo)
Associated Press

FedEx founder Fred Smith, who is also a minority owner of Washington's NFL franchise, is reportedly looking to sell his stake in the organization. 

Per ProFootballTalk's Mike Florio, Smith and another minority owner, Dwight Schar, have "actively been trying to sell their pieces of the team" because of "dissatisfaction" with multiple issues involving the organization, including the continued use of the nickname. 

According to Liz Clarke, Mark Maske and Les Carpenter of the Washington Post, Robert Rothman is also attempting to sell his ownership stake in the team.

FedEx issued this statement Thursday: "We have communicated to the team in Washington our request that they change the team name."

The company entered into a stadium naming rights agreement with Washington in 1999. The deal pays the franchise a total of $205 million through the 2026 season. 

Florio noted that Smith has tried to get Washington owner Dan Snyder to change the team's name for "years."

Per NFL reporter Josina Anderson, as of Thursday night, Snyder had "no official plans" to address the calls to change the name. Snyder and Washington issued a statement Friday announcing "the team will undergo a thorough review of the team's name."

Smith, along with Schar and Robert Rothman, purchased a 20 percent stake in the organization from Snyder in August 2003.