Investors Press Nike, Pepsi, and FedEx on Business Relationships with the Washington D.C. NFL Football Team
June 26, 2020
Today, 88 organizations representing $620 billion in assets sent letters to Nike, FedEx, and Pepsi urging the companies to terminate their business and public relationships with the National Football League’s (NFL) Washington D.C. franchise, if it does not stop using the name “Redskins.” The letters quote from the 2018 National Congress of American Indians resolution which stated:
the use of the R-word as the name and mascot of the Washington National Football League team is offensive and hurtful to American Indian and Alaska Native people and causes direct, harmful effects on the physical and mental health and academic achievement of the American Indian and Alaska Native populations, particularly youth; and …
despite the team’s arguments to the contrary, the R-word is not a term of honor or respect, but rather, a term that still connotes racism and genocide for Native peoples and for all others who know of this history and recognize that it is wrong to characterize people by the color of their skin;
The letters acknowledge the positive statements and steps taken by the three companies on matters of racial justice, but focuses on their public business relationships and associations with the team and argues that such association with and facilitation of the racism inherent in the name and logo runs contrary to the very sentiments expressed by the companies.
The letter remains open for other organizations to join.
Important Disclosure: This is not a recommendation to buy or sell any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. The specific securities were selected on an objective basis and do not represent all of the securities purchased, sold or recommended for advisory clients.