The times are definitely changing, as
evidenced by an announcement by the 87-year-old Washington Redskins franchise today that it plans to change its name. Pressure from the NFL football team’s sponsors -- which
include FedEx, PepsiCo, BudLite, Nike and Bank of America -- likely played a huge part in the decision. In late June, a group of more than 85 investment firms and shareholders representing
$620 billion in assets called on the team's sponsors to withdraw support unless team owner Dan Snyder changes its name. FedEx, the holder of the team’s stadium naming
rights, released a statement July 2 asking the team to change its name. The company reportedly sent a letter to team lawyers
saying it would terminate the naming rights deal and not pay the contract’s remaining $45 million if Snyder did not change the team name, according to The Washington Post. advertisementadvertisementThe name change won’t happen immediately and the franchise is still considering what to call itself, according to a statement.
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