FedEx is "deep in negotiations for entitlement" of the
Redskins' stadium, "with FedEx Field the leading candidate
as a new moniker," according to Terry Lefton of BRANDWEEK.
Agency sources "disagreed on how close the deal was to being
completed," as "some insisted it was 'all but done,' while
others said there was 'no way'" the deal would be completed
by September 12, the start of the NFL season. Redskins
Owner Daniel Snyder is "said to be seeking" a 20-year deal
at "more than" $5M per year. Lefton writes that a "complex
financing scheme for the deal, likely involving loans and
stock" in Snyder Communications, is "also taking some time
to structure." Lefton adds, "As for the rationale, FedEx
chairman Fred Smith is a huge football fan and frequent
visitor to D.C., where [the company's] lobbying efforts are
many and varied" (BRANDWEEK, 8/23 issue). The
SPORTSBUSINESS JOURNAL's John Lombardo floated FedEx "as one
of a handful of companies interested" in the Redskins'
stadium naming rights deal in the publication's 7/19 issue
(see THE DAILY, 7/19).
