Earlier this month, 87 different shareholders and investment firms, whose financial involvement totals more than $620 billion in assets, asked Nike, FedEx and PepsiCo to end their business relationships with the Washington Redskins due to the racist nature of the team’s nickname.
The team would soon make the decision to retire the nickname and logo after renewed pressure from major sponsors.
Soon after, it would be reported that three minority owners of Washington were seeking to sell their shares in the team because they are “not happy being a partner” with owner Daniel Snyder.
On Thursday, ESPN’s Adam Schefter stated those minority shareholders “have hired the investment bank, Moag & Company, to vet buyers and to sell their stake in the team.”
The three minority owners are prominent businessmen Robert Rothman, Dwight Schar and Frederick W. Smith, who combined own about 40% of the team.
All of this comes on the heels of The Washington Post preparing a story about the team that is expected to highlight the culture that existed and some of the problems that were created.
