According to CNN Business, FedEx, a major sponsor of the Washington Redskins, has asked the NFL team to change its name.
This comes after mounting pressure from investors who oppose the name's racist connotations.
FedEx said that over 80 groups and shareholders that invest in them demanded that FedEx CEO Frederick Smith "terminate its business and public relationships" with the franchise because of the name.
FedEx sponsors and has naming rights for the stadium the Washington Redskins plays in.
Similar investor letters were also sent to the CEOs of Nike, which produces the Redskins uniforms and equipment, and Pepsi, its snack and beverage partner.
Investors credited the Black Lives Matter movement for shining light on centuries of systemic racism.
Investors added, "It is time for FedEx to meet the magnitude of this moment, to make their opposition to the racist team name clear, and to take tangible and meaningful steps.."
