Three minority owners of the Washington Redskins have hired an investment banking firm to find buyers for their share of the team, The Washington Post reported.
The men — Robert Rothman, Dwight Schar and Frederick W. Smith — jointly own 40 percent of the team but reportedly want to sell out of dissatisfaction with majority owner Dan Snyder.
The three are “not happy being a partner” with Snyder, the Post reported.
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.
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, $205 million naming-rights deal in 1999 for the Redskins stadium in Landover, Md., called FedEx Field.