Washington D.C., February 28, 2024 – In a surprising move, FedEx announced on Wednesday they will be ending their naming rights deal for the Washington Commanders' stadium, FedEx Field, two years early. This comes just one day after the Commanders announced millions in upgrades for the stadium.
Longstanding Partnership Ends
The Federal Express Corporation, known simply as FedEx, held the naming rights for the stadium in Prince George's County, Maryland, since 1999. The company paid a significant sum, $205 million, to secure the naming rights and change the stadium's name from Jack Kent Cooke Stadium.
Shifting Focus
In a statement to WTOP, FedEx explained their decision to relinquish the naming rights was driven by a strategic shift in their marketing approach. They aim to focus on "broader NFL sponsorship and opportunities" instead of solely focusing on the stadium.
"We continuously review our marketing programs to ensure our investments are aligned with our evolving business objectives," the statement reads. "We believe the future is bright for the Washington Commanders, and we look forward to watching the team evolve under their new ownership."
Commanders Seek New Partner
The Commanders expressed their gratitude to FedEx for their "longstanding naming rights sponsorship and their work with our team and community." They also announced they are actively seeking a new partner to take over the naming rights.
"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," the team stated.
Changes Afoot for Commanders
Finding a new naming rights partner is just one of the many changes the Commanders are implementing for the 2024 season. These changes include welcoming a new head coach, Dan Quinn, and possessing the number two overall pick in the upcoming NFL draft.
Underlying Tensions?
While the official statements remain amicable, reports suggest tensions between FedEx and the Commanders' management may have played a role in the decision. These tensions reportedly surfaced in 2020 when FedEx requested the team change its name due to pressure from other sponsors and investors.
Leaked Document Hints at Future
A leaked internal document from 2023 revealed details about investments in the team and stadium. It reportedly outlined a provision in the naming rights contract that allowed FedEx to terminate their deal if the team's management changed. The document also hinted at the possibility of securing a higher-paying naming rights partner in 2024, potentially generating an additional $10 million in revenue for the season.