Fred Smith, Visionary FedEx Founder and Former Washington Commanders Minority Owner, Passes Away at 80
Fred Smith, the innovative founder of FedEx Corp. and a prominent figure who held a minority ownership stake in the Washington NFL franchise for nearly two decades, has died. Smith, also known as the father of Pittsburgh Steelers offensive coordinator Arthur Smith, was 80 years old.
Smith’s influence spanned not only the global logistics industry he revolutionized with FedEx but also made a significant mark on the sports world, particularly through his company’s extensive sponsorships and his direct involvement with the Washington team.
A Legacy in Washington Football
Smith became a minority owner of the Washington franchise in 2003, joining a group that included Robert Rothman and Dwight Schar. Together, they held a 40% stake in the team under then-majority owner Dan Snyder. This partnership lasted until 2021 when the minority owners sold their shares.
During his time as a part-owner, Smith was reportedly often at odds with Snyder. A key point of contention arose over the team’s original name, which Smith publicly favored changing. FedEx, which held the naming rights to the team’s stadium in Landover, Maryland, through a substantial 27-year, $205 million deal signed in 1999, also issued a press release in 2020 supporting a name change. The stadium naming rights deal between FedEx and the team was eventually severed in 2024, two years early, after Snyder sold the franchise to a new ownership group led by Josh Harris.
The disagreements between Smith and the other minority owners and Snyder escalated, leading to a lawsuit filed in federal court in November 2020. The minority owners alleged that Snyder interfered with a pending $900 million sale of their shares to outside investors. Snyder countered, accusing Schar of attempted extortion; Schar was later banned from future NFL ownership roles by the league. The team ultimately changed its name to the Washington Football Team in 2020 before adopting the Commanders name in 2022. Reports suggest an unmistakable link between the pressure exerted by Smith and the other minority partners and Snyder’s eventual sale of the team in 2023.
The Washington Commanders organization released a statement mourning Smith’s passing, recognizing him as the FedEx founder and executive chairman, a respected philanthropist, innovative businessman, former minority stakeholder, and proud U.S. Marine Corps veteran. The statement extended condolences to his family, loved ones, and colleagues at FedEx.
FedEx’s Broad Sports Footprint
Beyond his ownership in Washington, Fred Smith oversaw FedEx’s rise as a major sponsor across the sports landscape. The company holds naming rights to the Memphis Grizzlies’ arena, the FedEx Forum, which also hosts the University of Memphis men’s basketball team. Smith’s family further demonstrated their commitment to Memphis sports with a $50 million donation in 2023 for renovations to Simmons Bank Liberty Stadium, the home of the Tigers football team. Last year, FedEx pledged $25 million over five years for name, image, and likeness (NIL) sponsorship deals for Memphis athletes.
FedEx has also been a long-standing partner of the PGA Tour for nearly 40 years, sponsoring the Memphis-area tournament, the FedEx St. Jude Classic. The company is notably the naming sponsor for the PGA Tour’s season-long points competition and playoffs, the FedExCup, since its inception.
PGA Tour commissioner Jay Monahan expressed sadness at Smith’s death, calling him a “visionary of FedEx who led every day with tremendous character and values.” Monahan highlighted FedEx’s monumental influence on the sport through sponsorship and the FedExCup, stating that Smith and his company significantly contributed to the growth of PGA Tour golf.
From Marines to Global Logistics
Before launching FedEx, Smith served his country in the U.S. Marine Corps after graduating from Yale in 1966. He completed two tours in Vietnam, leaving the military as a captain in 1969 with decorations for bravery, including the Bronze Star, Silver Star, and two Purple Hearts. Smith often credited his experience in the Marines, more so than his time at Yale, with shaping his approach to leading FedEx. His Yale classmates included future President George W. Bush and future Senator John Kerry.
Smith founded Federal Express (now FedEx) in Memphis, Tennessee, in 1973, based on the radical idea of overnight delivery for small packages. He built the company into a global transportation and logistics giant, handling an average of 17 million shipments per business day, becoming an economic bellwether. He stepped down as CEO in 2022 but remained executive chairman until his death.
Prior to his Washington ownership, Smith had aspirations of bringing the NFL to Memphis, participating in a bid for an expansion team in 1993 that reportedly involved Elvis Presley’s estate and the potential name ‘Memphis Hound Dogs.’ Jacksonville and Carolina were ultimately awarded franchises that year.
Though estimated to have a net worth of $5.3 billion at the time of his death, Smith generally maintained a low public profile, focusing on work and family. He was a respected philanthropist but faced personal challenges, including a federal forgery indictment related to a bank loan in 1975 (of which he was acquitted) and involvement in a fatal hit-and-run accident the same day (case dismissed).
Smith is survived by accomplished children, including his son Arthur, the NFL coach, and daughters Windland Smith Rice, a renowned nature photographer, and Molly Smith, a successful film producer. Despite his preference for privacy, he even made a brief cameo appearance in the 2000 Tom Hanks film “Castaway,” which centered around a FedEx employee.
