The Washington Commanders will no longer play their home games at FedEx Field starting this season... as FedEx has ended their naming rights deal to the stadium in Landover, Maryland.
The ending of the deal, which was struck in 1999 for $205 million, will cost the Commanders roughly $15 million, the Washington Post reported on Wednesday. The deal had two years remaining and was ended when the company exercised an opt-out provision before the end of the 2023 calendar year that stemmed from the team's sale.
The naming rights deal came into place after Dan Snyder completed the purchase of the team and the name changed from Jack Kent Cooke Stadium. Fred Smith, the founder of FedEx, was a minority partner of Syder's from 2003 to 2021 when he, Robert Rothman and Dwight Schar sold their stake back to Snyder.
The Post reported the move "caught the Commanders by surprise amid renewed fan interest and after an influx of new sponsorship deals."
“We thank FedEx Corporation for its longstanding naming rights sponsorship and their work with our team and community and look forward to their continued partnership within the Commanders family,” a team statement to The Post read. “We have already started the process of identifying our next stadium naming rights partner — a partner who will play a crucial role in ushering in the next era of not only Commanders football, but also a robust slate of top live events and concerts.”
FedEx's statement to the Post read, in part: “We continuously review our marketing programs to ensure our investments are aligned with our evolving business objectives. As part of this review, we have decided to not continue as the naming rights sponsor of FedEx Field as we focus on our broader NFL sponsorship and opportunities that reflect our global footprint. We believe the future is bright for the Washington Commanders, and we look forward to watching the team evolve under their new ownership.”