Many consider the nickname of the National Football League club to be a racial slur directed at Native Americans and although there has been mounting pressure for the team to play under a different name, Snyder has refused.
"The company's request comes less than a week after a group of more than 85 investment firms and shareholders representing $620 billion in assets called on FedEx, Nike, and Pepsi - Fortune 100 companies that do business with the team - to sever ties with the team unless Snyder changes its name".
The Washington Redskins are under pressure to change the team's name, which many people consider racist, and until that happens, the team will not be able to move to RFK Stadium in D.C.
Team owner Dan Snyder has been under renewed pressure to change its nickname, with protestors reportedly targeting their sponsors, according to Adweek.
"This is a broader movement now that's happening that Indigenous peoples are part of", said Carla Fredericks, the director of First Peoples Worldwide and University of Colorado Law School's American Indian Law Clinic.
FedEx CEO Fred Smith is also a minority owner in the Redskins. "With social media now, obviously everything is very different".
U.S. businesses are examining their corporate culture in the aftermath of recent civil unrest, triggered by the police killing of unarmed African American George Floyd.
One of the Redskins' biggest and most loyal corporate supporters is asking the team to change its name.
The site of RKF Stadium, where Washington played from 1961-96, is owner Dan Snyder's preferred location for a renovated stadium.
The team's derogatory and discriminatory name toward Native American peoples has been front and center over the years, and any change has been met with heavy resistance from Snyder during the duration of his ownership.
The franchise is exploring plans to build a new stadium in Virginia, but negotiations about how the stadium would be funded make that move uncertain.