Washington Redskins: Three minority owners looking to sell
Last Updated: 06/07/20 7:34pm
Three minority owners of the Washington Redskins have hired an investment banking firm to find buyers for their share of the team, reports The Washington Post.
The men - Robert Rothman, Dwight Schar and Frederick W. Smith - jointly own 40 per cent of the team but reportedly want to sell out of dissatisfaction with majority owner Dan Snyder.
The three are quoted by the Post as "not happy being a partner" with Snyder.
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Smith is chairman, president and CEO of FedEx. Last week, the Memphis-based shipping giant called for the Washington franchise to change its name - a frequent refrain since Snyder bought the team in 1999.
Other corporate partners, including Nike and PepsiCo, joined FedEx.
Snyder has resisted all calls throughout the years to adopt a new name, but on Friday team officials announced they would "undergo a thorough review" as the nation grapples with racial inequality and social justice.
It's a drastic change from his stand in 2013, when Snyder told USA Today: "We'll never change the name. It's that simple. NEVER - you can use caps."
New head coach Ron Rivera said he supports a name change for the team and is working with Snyder. According to multiple outlets, the new name could be in effect for the 2020 season.
Smith's company, FedEx, signed a 27-year $205m naming-rights deal in 1999 for the Redskins stadium in Landover, Maryland, called FedEx Field.
Trump weighs in
They name teams out of STRENGTH, not weakness, but now the Washington Redskins & Cleveland Indians, two fabled sports franchises, look like they are going to be changing their names in order to be politically correct. Indians, like Elizabeth Warren, must be very angry right now!— Donald J. Trump (@realDonaldTrump) July 6, 2020
US president Donald Trump has meanwhile taken to social media to question the prospect of the Redskins and the Cleveland Indians changing their names.
Both teams are conducting a review of their controversial franchise names amid significant pressure from sponsors and the public.
Trump tweeted: "They name teams out of STRENGTH, not weakness, but now the Washington Redskins & Cleveland Indians, two fabled sports franchises, look like they are going to be changing their names in order to be politically correct.
"Indians, like Elizabeth Warren, must be very angry right now!"