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FedEx: 'We appreciate' Washington's plans to change its name and logo

FedEx: 'We appreciate' Washington's plans to change its name and logo

Washington's football team will have a new name and logo shortly, and that's a decision that FedEx approves of.

"We appreciate the team's decision to change its name and logo, and we look forward to the outcome of the next step in the process," the company said in a statement released to NBC Sports Washington on Monday afternoon.

FedEx, of course, has been applying pressure on the Burgundy and Gold for days now, dating back to when they formally called upon the organization on July 2 to drop "Redskins." They were the first of now a large group of partners and sponsors to take such a stance.

More recently, there were rumblings that the company would remove all signage from the team's stadium, which bears FedEx's name, after the 2020 season if there was no change.

Frederick Smith, the CEO of FedEx, is also a minority owner of Washington. He and two others are reportedly looking to sell their stakes, however, though they've been unsuccessful in doing so thus far.

Now, FedEx — like everyone else — is awaiting the "next step" in this story, which will presumably include the franchise's new name.

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Report: FedEx will remove signage from stadium after 2020 NFL season if Redskins don't change name

Report: FedEx will remove signage from stadium after 2020 NFL season if Redskins don't change name

In addition to the public statement FedEx shared on July 2 formally asking the Redskins to change their name, the company also sent a letter to the team saying that if the name was not changed all signage from FedExField will be removed following the 2020 NFL season, The Washington Post's Liz Clarke reported.

FedEx currently holds the naming rights to the stadium and has a deal in place that carries through the 2025 season. Frederick Smith, CEO of FedEx is a minority owner in the Redskins, though he has been reportedly looking to sell his share.

According to Clarke, who spoke with a person familiar with the letter, FedEx stated that the current name would harm the image and reputation of its brand. Additionally, the moniker goes against the company's ideals of being all-inclusive and diverse. Staying with the Redskins would only harm FedEx's reputation and relationship with customers in the future.

Therefore, unless the name is changed, FedEx will no longer have any involvement at Washington's current stadium.

RELATED: REDSKINS FINANCIAL VALUE WON'T DECREASE WITH NAME CHANGE

The news is the latest major domino to fall since major requests to change the name came from the likes of FedEx as well as investors in PepsiCo and Nike last week. Since then, PepsiCo has made a statement requesting a name change while Nike has removed all Redskins merchandise from their website.

They are not alone, as AmazonTarget and Walmart, are among the others that have eliminated Washington gear from their online retail shops. 

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Washington is currently conducting an internal review of the name, but a change is expected. However, switching a team name is something that generally takes time, meaning there's no guarantee it happens before the 2020 season begins.

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Who is Frederick Smith? Get to know the Redskins' minority owner and FedEx CEO

Who is Frederick Smith? Get to know the Redskins' minority owner and FedEx CEO

When one hears the word "owner" in relation to the Redskins, Dan Snyder's name is the first to come up.

Now, while Snyder has been the Burgundy and Gold's majority owner since 1999, and one real constant in the franchise's past few decades, there are other minority owners involved in the organization. That may not be something many knew, though — until Thursday.

That's when FedEx formally asked the Redskins to change their name on a day that also included Nike removing all of the team's apparel from its website. The CEO of FedEx, Fred Smith, just so happens to be a minority owner of the franchise, too.

So, who exactly is Smith? That's a question many supporters of the organization and followers of the sport now have. Let's try to answer it.

(via Redskins.com)

Smith bought a stake in the Redskins back in 2003 along with two other business executives. Those three reportedly purchased 20-percent of the team.

Before that move, Smith had been actively trying to acquire rights for an expansion franchise and even owned the Memphis Mad Dogs of the Canadian Football League. His son, Arthur, is the offensive coordinator for the Titans.

RELATED: NOW REDSKINS WAIT TO SEE IF NIKE, PEPSI WILL FOLLOW FEDEX'S LEAD

The now 75-year-old has held his position as minority owner for nearly 17 years. 

Smith's biography on the Redskins website can be found here. It focuses solely on his work with FedEx. He founded the company in 1971.

Smith is also the chairman of Alcon Entertainment, which produces films.

In just one day, Smith made more Redskins-related waves than he did in his previous 17 years with Washington. The wait begins to see just how large those waves eventually become. 

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