The sports world mourns the loss of Fred Smith, former minority owner of the NFL franchise in Washington and founder of FedEx Corp. Smith passed away at the age of 80, leaving a significant legacy in the sports and business fields.
A Legacy in Sport
Smith, father of Arthur Smith, former coach of the Atlanta Falcons and current offensive coordinator for the Pittsburgh Steelers, owned a part of the Washington franchise from 2003 to 2021. His influence extended across several teams and sporting events.
The Washington Commanders mourn the passing of Frederick W. Smith, founder and executive chairman of FedEx.
In 2003, Smith acquired a minority stake in the ownership of Washington under Dan Snyder. Smith, along with Robert Rothman and Dwight Schar, owned 40% of the franchise before selling their shares in 2021. This sale occurred at a time of tensions and disagreements with then-owner Snyder.Fred Smith, apoyando a su hijo Arthur Smith antes de un partido de los Falcons en 2021.The relationship between the minority owners and Snyder deteriorated, leading to a lawsuit in 2020. The minority owners accused Snyder of interfering with the sale of their shares. The team eventually changed its name to Washington Football Team in 2020 and then to Commanders in 2022.
Before investing in Washington, Smith tried to bring an NFL expansion team to Memphis, Tennessee, home of FedEx. However, the league chose Jacksonville and Carolina.
FedEx also has the naming rights for the Memphis Grizzlies’ stadium, the FedEx Forum, since 2002. In addition, the stadium is home to the Memphis Tigers men’s basketball team.
In 2023, the Smith family donated $50 million for renovations at Simmons Bank Liberty Stadium, home of the Memphis Tigers football team. Last year, FedEx pledged to donate $25 million over five years for name, image, and likeness sponsorship deals with the school’s athletes.
FedEx has also been a sponsor of the FedEx St. Jude Classic golf tournament and a title sponsor of the PGA Tour season-long points competition and playoffs, the FedExCup.
The PGA TOUR mourns the passing of Frederick W. Smith, the FedEx visionary who led every day with tremendous character and values.
Smith founded FedEx in 1973, revolutionizing the transportation industry with rapid deliveries. Under his leadership, FedEx became a global logistics company with an average of 17 million daily shipments. Smith stepped down as CEO in 2022, but remained as executive chairman.
Smith, a Yale graduate and Vietnam War veteran, where he was decorated for his bravery, applied the lessons learned in the military to his business success.
Despite his low profile, Smith made an appearance in the 2000 film “Castaway”.
