Nike, FedEx, and Pepsico among businesses being pressured by shareholders and investors to cut ties with the Washington Redskins unless the team changes its name, according to The Hill.
A letter was sent by 87 firms that hold almost 620 billion dollars in assets claimed that the companies were not living up to their opposition to racial injustice.
“[I]n light of the Black Lives Matter movement that has focused the world’s attention on centuries of systemic racism, we are witnessing a fresh outpouring of opposition to the team name,” the letter said, “Therefore, it is time for Nike to meet the magnitude of this moment, to make their opposition to the racist team name clear, and to take tangible and meaningful steps to exert pressure on the team to cease using it.”
While the letter acknowledged Nike’s efforts to continue the conversation surrounding systemic racism, referring to the Colin Kaepernick ad campaign, the letter signers were disappointed that Nike continued to supply uniforms and merchandise that adorned the Washington Redskins name and logo.
“The association with and facilitation of the racism inherent in the name and logo runs contrary to the very sentiments expressed by the company,” the letter said.