NFL's Washington Redskins to change name following years of backlash

The NFL's Washington Redskins have decided to change their team name.

"On July 3rd we announced the commencement of a thorough review of the team's name. ... Today, we are announcing we will be retiring the Redskins name and logo upon completion of this review," the team said in a statement on Monday.

The team has not released what the name is being changed to -- the team said owner Dan Synder and coach Ron Rivera will "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."

The decision comes amid the Black Lives Matter movement -- which has sparked a cultural awakening -- and after decades of debate over its name and logo, which many say are offensive towards Native Americans.

Snyder, who bought the team in 1999, previously said the team would "never" change its name, and argued that it actually honored Native Americans. But in a statement last week, he announced they would consider changing their name "in light of recent events around our country and feedback from our community."

"This process allows the team to take into account not only the proud tradition and history of the franchise but also input from our alumni, the organization, sponsors, the National Football League and the local community it is proud to represent on and off the field," he added after receiving pressure from FedEx, which owns the naming rights to the stadium where the team plays in Landover, Maryland.

But FedEx wasn't the only corporate sponsor who supported the change. Nike and PepsiCo also followed suit, with Nike allegedly removing all of the Washington team's merchandise from their online store.