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Photo: Patrick McDermott/Getty Images

The Washington Redskins have announced they will be conducting a review of the team's name after mounting pressure from the public and corporate sponsors.

Why it matters: This review is the first formal step the Redskins are taking since the debate surrounding the name first began. It comes after weeks of discussions between the team and the NFL, the team said.

A source familiar with the matter told The Washington Post, "You know where this leads. They're working on that process [of changing the name]. It will end with a new name. Dan has been listening to different people over the last number of weeks.”

What they're saying: Team owner Daniel Snyder who has been adamantly against changing the team's name, now says, "This process allows the team to take into account not only the proud tradition and history of the franchise, but also input from our alumni, the organization, sponsors, the National Football League, and the local community it is proud to represent on and off the field."

  • Head coach Ron Rivera: "This issue is of personal importance to me and I look forward to working closely with Dan Snyder to make sure we continue the mission of honoring and supporting Native Americans and our Military."

The state of play per Axios' Kendall Baker: Nike, FedEx and PepsiCo each received letters signed by 87 investors and shareholders worth a combined $620 billion asking the brands to cut ties with the Redskins unless they change their name, AdWeek reports.

  • FedEx, named sponsor of the Redskins' stadium, released a statement that says in full: “We have communicated to the team in Washington our request that they change the team name.“

Go deeper

TikTok CEO Kevin Mayer resigns

Photo: Jesse Grant/Getty Images for Disney

Kevin Mayer resigned Wednesday as CEO of TikTok, the popular video app that's in the spotlight amid U.S.-China tensions, and which has been ordered by President Trump to sell its U.S. operations to a domestic buyer.

Why it matters: Mayer took the job just three months ago after 27 years on-and-off at Disney, where he most recently headed online streaming, including the debut of Disney+, and was long considered a potential successor to former CEO Bob Iger.

Ben Geman, author of Generate
44 mins ago - Energy & Environment

Democrats' clean power outlook is very muddy

Illustration: Annelise Capossela/Axios

Here are two big questions as a key Democratic proposal to slash emissions from power generation flounders: how much its demise would sap climate protections, and what might replace it.

Catch up fast: New financial carrots and sticks for utilities to deploy zero-carbon power — the Clean Electricity Performance Program (CEPP) — look unlikely to stay in Democrats' big social spending and climate bill.

Colin Powell dies from COVID complications at 84

Photo: Paul Morigi/Getty Images for Capital Concerts

Colin Powell, the first Black U.S. secretary of state, died of complications from COVID-19, his family announced Monday. He was 84.

Driving the news: The Powell family said in a statement that he was fully vaccinated. "We want to thank the medical staff at Walter Reed National Medical Center for their caring treatment."