Redskins' minority owners looking to sell stakes amid name-change dilemma: reports
WASHINGTON (FOX NEWS) - Three minority owners of the Washington Redskins are looking to sell their shares due to their due to their different standpoint from majority owner Daniel Snyder, according to multiple reports.
Robert Rothman, Dwight Schar and Fred Smith, who own a combined 40 percent of the team, are “not happy being a partner” with Snyder and have hired an investment firm to search for potential buyers of their shares, The Washington Post reported Sunday.
READ MORE: Washington Redskins to conduct review of the team’s name, team officials say
Pro Football Talk first reported that Schar and Smith were looking to sell their shares in the team.
The Redskins franchise has been under pressure in recent weeks to change the team name over its racial connotations. FedEx, of which Smith is the CEO, publicly requested the team change its name. That was followed by Nike pulling team gear from its website and Pepsi adding its voice to the conversation.
READ MORE: Redskins cannot move to new stadium unless team name changes: report
“We have been in conversations with the NFL and Washington management for a few weeks about this issue. We believe it is time for a change. We are pleased to see the steps the team announced today, and we look forward to [a] continued partnership,” a Pepsi Co. spokesperson said in a statement.
In light of corporate pressure, the Redskins announced Friday it would do a “thorough review” of the team name, which has been used since 1933.
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“In light of recent events around our country and feedback from our community, the Washington Redskins are announcing the team will undergo a thorough review of the team’s name. The review formalizes the initial discussions the team has been having with the league in recent events."
Snyder added: “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.”
NFL Commissioner Roger Goodell has expressed his support about the team’s talks.