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FedEx on Thursday asked Washington, D.C.'s NFL team — whose stadium the company sponsors — to change its name amid growing pressure from investment firms to halt business with the team.
Why it matters: Team owner Daniel Snyder has been adamantly opposed to changing the Washington Redskins name, arguing that it "represents honor, respect and pride."
- But officials in Washington are blocking construction of a new stadium unless the team changes its name, per the Washington Post. The team currently plays on "FedEx Field" in Landover, Maryland.
- Dozens of investors are asking that businesses pull their dollars from the team amid a nationwide reckoning over racist symbols.
- Nike, FedEx and PepsiCo each received letters signed by 87 investors and shareholders asking the brands to cut ties with the team, per Adweek.