Shortly after asking the Washington Redskins to find a new nickname, FedEx notified the team in a second letter that all signage from the stadium would be removed following the 2020 season unless its name was changed, Liz Clarke of The Washington Post reports.

The second letter noted that the name posed the risk of harming FedEx's brand image and was seen as inconsistent with its commitment to a more inclusive society, per Clarke.

The shipping company owns the naming rights to the franchise's stadium in a deal that took effect in 1999 and runs through 2025.

FedEx was one of three sponsors - the others being Nike and PepsiCo. - to receive a letter signed by 87 investment firms and shareholders last week asking them to cut ties with Washington unless the nickname was changed.

Frederick Smith, the company's founder, is a minority owner. Smith has already begun selling shares because he's unhappy doing business with team owner Daniel Snyder, a source told Clarke.

Snyder purchased the franchise and its current stadium in 1999.