Washington NFL team to retire ‘Redskins’ nickname, logo

The Washington Redskins officially announced Monday morning that the franchise will change its nickname and logo.

However, a new name wasn’t revealed.

"Today, we are announcing we will be retiring the Redskins name and logo upon completion of this review," the team said in a statement.

"(Owner) Dan Snyder and Coach (Ron) Rivera are working closely to develop a new name and design approach that will enhance the standing of our proud, tradition rich franchise and inspire our sponsors, fans and community for the next 100 years."

A source told ESPN that the plan, as of now, is to retain the franchise’s use of burgundy and gold colors.

Washington Redskins undergoing ‘thorough review’ of team name

On July 3, the franchise announced it would undergo a thorough review of its name. Several companies had pledged to stop selling the team’s gear if the name wasn’t changed, and 87 investors and shareholders signed a letter sent to sponsors FedEx, PepsiCo and Nike asking them to stop doing business with the team until its name was changed.

FedEx also said it would remove its signage from the stadium unless the name was changed. FedEx’s owner and CEO, Fred Smith, has been a minority shareholder in the franchise since 2003, ESPN reports.

Native American experts and advocates have long protested the name they call a “dictionary-defined racial slur.”

The name dates to 1933 when the team was still based in Boston.

The Associated Press contributed to this story.