In response, the sportswear giant has removed all Redskins products from its online store, while the team's name has also been removed from the left sidebar that allows buyers to select which NFL team's products they'd like to see.
Nike is yet to comment on the letter from investors and the removal of the team's products.
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According to Mary Emily O'Hara of Adweek, FedEx and Pepsi were the other two companies that were sent the letters asking them to cut ties with Daniel Snyder's team.
Pepsi is yet to comment; however, FedEx released a statement Thursday calling for the Redskins to rebrand.
"We have communicated to the team in Washington our request that they change the team name," it said in a statement, according to the BBC.
In 1999, FedEx paid $205 million for the naming rights to the Redskins' 82,000-seat stadium, which has since been known as FedExField. The deal expires in 2025.
FedEx's boss and founder, Frederick Smith, also owns a minority stake in the team.
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