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The Washington Redskins are preparing a total overhaul of the historic NFL's franchise, with a name change in store in the near future. Additionally, an investment bank, Moag & Company, are preparing to discuss the team's minority stakeholders' willingness to sell shares, per ESPN's Adam Schefter.
Minority shareholders of Washington’s NFL team have hired the investment bank, Moag & Company, to vet buyers and to sell their stake in the team, per a league source.
— Adam Schefter (@AdamSchefter) July 16, 2020
Thursday also saw news of the Washington professional football franchise seek outside legal counsel to determine the overall organizational culture within the team's corporate control. Team owner Dan Snyder has been adamant over the years in refusing to change the team's name despite indigenous people's activism and calls from many people to remove the slur as the D.C. franchise's nickname.
It took multiple brand partners, such as FedEx and Nike, to push Snyder and Washington to strongly reconsider a new name—something that was announced officially by the franchise in the past week and will get a formal new name in the coming weeks.
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Today's latest development—which could prelude to a major story that keeps being advertised coming to the Washington Post about the Redskins and the franchise's culture—includes this investment bank “vetting,” according to Schefter, minority owners' thoughts on selling their stakes in the team.
Among the Redskins' issues is potentially returning to the District of Columbia proper, as the nation's capital's officials are preventing Washington from returning without a name change—another qualifying pressure point activated and incentivizing playing at RFK Stadium or building a new stadium where the legendary venue stands.
Major changes are expected to come to Washington, with the team name change only the tip of the iceberg according to the latest reports.
