Fred Smith, FedEx Founder and Former Washington NFL Franchise Owner, Dies at 80

Fred Smith, founder of FedEx Corp. and a former minority owner of the Washington NFL franchise, has died, the team and his family announced Sunday. He was 80.

Smith, one of the most prominent sponsors across American sports, owned a stake in the Washington football franchise from 2003 to 2021, and was a driving force behind the team’s eventual name change to the Commanders.

“The Washington Commanders mourn the passing of Frederick W. Smith, FedEx founder and executive chairman,” the team said in a statement. “Mr. Smith was a highly respected philanthropist and innovative businessman whose investments once included a minority stake in our team. He also proudly served our country in the U.S. Marine Corps. We send our sincere condolences to Mr. Smith’s family and loved ones, as well as our friends across the FedEx organization.”

Smith is also the father of Arthur Smith, former Atlanta Falcons head coach and current offensive coordinator for the Pittsburgh Steelers. Along with two others, he purchased a minority share of the Washington franchise from Dan Snyder, but the group became disillusioned with the majority owner and sold their stake at a time when Snyder was under intense pressure to change the team’s original name.

Smith, whose FedEx Corp. held the stadium naming rights, issued a press release in favor of changing the name, which Snyder staunchly opposed. That kicked off a legal drama as the minority owners sued Snyder in federal court, claiming he improperly used his first right of refusal by offering to buy the shares of Smith and another owner, but not the third – whom Snyder accused of extortion. That owner, Dwight Schar, was banned by the NFL from being a part of any ownership group.

In 2020, the team changed its name to the Washington Football Team, finally settling on the Washington Commanders in 2022.

Smith first tried to break into the NFL in 1993 with an expansion effort in Memphis, Tennessee, where FedEx is headquartered. But the league chose Jacksonville and Carolina instead, and FedEx instead bought the naming rights to Washington’s stadium in 1999 in a $205 million, 27-year deal.

That deal was severed in 2024 when Snyder sold the team to another group, led by current majority owner Josh Harris.

Smith launched FedEx in 1973 as a small parcels and documents-delivery service billed as a faster alternative to the U.S. postal service. It grew to average 17 million shipments per day worldwide.

He remained a major player in Memphis sports, taking naming rights to the Grizzlies arena – the FedEx Forum – which is also home to the Memphis Tigers’ men’s basketball team. His family also donated $50 million for renovations to the Simmons Bank Liberty Stadium, home of Tigers football.

FedEx also has sponsored the PGA Tour’s Memphis golf tournament, and is naming sponsor of the Tour’s points competition – the FedExCup.

Smith made a cameo in the Tom Hanks film “Castaway” – about a FedEx employee stranded on a deserted island.

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