Though changing the name of Washington’s football team will cost owner Daniel Snyder and the NFL (due to revenue sharing) some money in the short-term, it could end up being quite profitable to get rid of the Redskins moniker.
It won’t be instantaneous, but as fans gradually replace all of their Washington Redskins gear — from jerseys to jackets to coolers to couch covers — Snyder will start to recoup some the up-front costs of getting rid of the team’s offensive name on short notice.
Also, if the name isn’t changed, Snyder may completely lose the team’s lucrative corporate sponsorships, which means a rebranding will likely be a financial win no matter what.
“If it costs you seven figures to go through a rebrand, but your naming-rights partner wants to take you to court, or your pouring-rights partner says they’re pulling out … the economics of it are no longer tenable,” David Carter, an associate professor of sports business at USC’s Marshall School of Business, told The Washington Post.
If Snyder wants to get his burgundy and gold team back in the black in terms of merchandise sales, he should greenlight a name change sooner rather than later.
In recent days, Amazon has pulled merchandise for the team from its website as have retailers including Walmart, Nike, and Target.
While it has been reported there will be no Native American imagery in a new team logo, as if that should have even been under consideration given the circumstances, burgundy and gold will remain Washington’s colors.
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