Fred Smith, Former Owner of the Commanders and Founder of FedEx, Passes Away

The sports world mourns the loss of Fred Smith, former minority owner of the Washington NFL franchise and founder of FedEx Corp., a prominent sponsor in the sports field. Smith passed away at the age of 80. Smith, father of the former coach of the Atlanta Falcons and current offensive coordinator of the Pittsburgh Steelers, Arthur Smith, owned a part of the Washington franchise from 2003 to 2021.

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

Statement from the Washington Commanders

In 2003, Smith acquired a minority stake in the ownership of Washington under Dan Snyder’s mandate. Smith, along with Robert Rothman and Dwight Schar, owned 40% of the franchise before selling their shares in 2021.

Fred Smith, seen here supporting his son Arthur Smith before a Falcons game in 2021, has passed away. The founder of FedEx Corp. was 80 years old. The three minority owners had become disenchanted with Snyder and, in 2020, hired a firm to seek a buyer for their stake. This occurred at a time when Snyder was under pressure to change the team’s original name; Smith had been in favor of a name change; FedEx, which held the stadium naming rights, issued a press release at the time saying it had informed the team that it wanted them to change the name. In November 2020, the three minority owners sued Snyder in federal court, alleging that he interfered with a pending sale of their shares to investors willing to pay $900 million for their shares. They said Snyder improperly used his right of first refusal by offering to buy Smith and Rothman’s shares, but not Schar’s. Snyder had accused Schar of leading an effort to extort him. The NFL subsequently banned Schar from rejoining an ownership group. The team finally changed its name to Washington Football Team in 2020 before changing the name to Commanders in 2022. Before buying a stake in the Washington franchise, Smith was part of an effort in 1993 to get an NFL expansion team in Memphis. However, Jacksonville and Carolina were chosen by the NFL to join the league at that time. In 1999, Memphis, Tennessee-based FedEx signed a 27-year agreement worth $205 million for the naming rights to the stadium of Washington’s NFL franchise, but terminated the agreement two years early, in 2024, after Snyder sold the team to a group led by current owner Josh Harris. FedEx has a separate partnership with the team that remains in effect. FedEx also has the naming rights to the NBA’s Memphis Grizzlies stadium, the FedEx Forum, after signing an agreement in 2002. The stadium is also home to the Memphis Tigers basketball team. In 2023, the Smith family donated $50 million for renovations to Simmons Bank Liberty Stadium, home of the Memphis Tigers football team. Last year, FedEx pledged $25 million over five years to be used in name, image, and likeness sponsorship agreements with the school’s athletes. FedEx has also been a sponsor of the PGA Tour golf tournament in the Memphis area, the FedEx St. Jude Classic, and has been the title sponsor of the PGA Tour season points and playoffs competition, the FedExCup.

The PGA TOUR mourns the passing of Frederick W. Smith, the FedEx visionary who led every day with tremendous character and values. FedEx has been a tremendous partner for nearly 40 years, and its influence on our sport through tournament sponsorship and its involvement since the first day of the FedExCup has been monumental. Fred and his company made significant contributions to the growth and popularity of PGA TOUR golf, and the TOUR continues to benefit from his influence and that of FedEx, which will be felt for generations. We mourn the loss of a legendary business leader and philanthropist and offer our condolences to his family.

Jay Monahan, PGA Tour Commissioner

FedEx began operating in 1973, delivering small packages and documents faster than the postal service. Over the next half-century, Smith oversaw the growth of a company that became a kind of economic barometer because many other companies depend on it. FedEx, based in Memphis, Tennessee, became a global transportation and logistics company averaging 17 million shipments per business day. Smith stepped down as CEO in 2022 but remained executive chairman. After graduating from Yale University in 1966, Smith joined the U.S. Marines and was appointed second lieutenant. He left the military as a captain in 1969 after two tours in Vietnam, where he was decorated for his bravery and wounds received in combat. He told The Associated Press in a 2023 interview that everything he did while running FedEx came from his experience in the Marines, not what he learned at Yale. Although he was one of the most well-known and prominent citizens of Memphis, Smith generally avoided the public spotlight, dedicating his energies to work and family. Despite his low profile, Smith made an appearance in the 2000 film “Castaway” starring Tom Hanks. The film was about a FedEx employee stranded on an island.