FedEx Corp. /zigman2/quotes/203047719/composite FDX -1.45% , which pays for naming rights to the Washington Redskins' stadium in Maryland, has asked the team to change its controversial name. "We have communicated to the team in Washington our request that they change the team name," FedEx said in a statement to the media Thursday. FedEx Chief Executive Fred Smith is also a minority owner of the team. The team name has been criticized as racist for years, but team owner Daniel Snyder has been under increasing pressure recently amid the national reckoning on race relations. Earlier this week, AdWeek reported that nearly 90 investment firms and shareholders have asked FedEx, Nike Inc. /zigman2/quotes/203439053/composite NKE -0.41% and PepsiCo Inc. /zigman2/quotes/208744353/composite PEP -0.26% to cancel their business relationships with the team until it agrees to change its name, and the Washington Post reported Wednesday that Snyder will not be permitted to build a new stadium in Washington unless the team name is changed.