Fred Smith, Ex-Washington Owner and FedEx Founder, Dies at 80

Fred Smith, the founder of FedEx and a former minority owner of Washington’s NFL franchise, has died at the age of 80. Smith also leaves behind a major sports legacy through long-standing partnerships and sponsorships across football, basketball, and golf.

He was the father of Arthur Smith, the former Atlanta Falcons head coach and current offensive coordinator of the Pittsburgh Steelers.

Washington Ties and Ownership Battle

Smith became a minority owner of Washington’s NFL team in 2003, joining Robert Rothman and Dwight Schar in owning 40% of the franchise under Dan Snyder’s leadership. The three sold their shares in 2021.

By 2020, Smith and the other minority owners had grown frustrated with Snyder. They wanted out and even hired a firm to help sell their stake for $900 million. The sale, however, led to a legal dispute. Snyder used his right of first refusal to try and buy only Smith’s and Rothman’s shares, excluding Schar. This led to a lawsuit, with Snyder accusing Schar of extortion. The NFL later banned Schar from future team ownership.

Smith also supported changing the team’s former name. FedEx, which held naming rights to the team’s stadium, publicly urged the franchise to adopt a new identity. Washington eventually became the “Football Team” in 2020 and the “Commanders” in 2022.

FedEx and Its Role in Sports

Smith’s influence stretched far beyond team ownership. In 1999, FedEx signed a $205 million naming rights deal for Washington’s stadium, set to last 27 years. That agreement ended early in 2024 after Snyder sold the team to current owner Josh Harris. However, FedEx remains partnered with the franchise in other ways.

FedEx has had a strong presence in Memphis, where the company is based. It secured naming rights for the Memphis Grizzlies’ arena — the FedExForum — in 2002. The arena also serves as home for the Memphis Tigers men’s basketball team.

In 2023, Smith’s family donated $50 million to help renovate Simmons Bank Liberty Stadium, home of the Memphis Tigers football team. FedEx also pledged $25 million over five years to support name, image, and likeness (NIL) deals for Memphis athletes.

Golf and the FedExCup Legacy

Smith and FedEx played a major role in professional golf. The company has sponsored the PGA Tour’s Memphis-area event — now known as the FedEx St. Jude Championship — for decades. FedEx also created the FedExCup, the PGA Tour’s season-long points race and playoff system.

“The PGA TOUR is saddened to learn of the passing of Frederick W. Smith the visionary of FedEx who led every day with tremendous character and values,” said PGA Tour commissioner Jay Monahan. “FedEx has been a tremendous partner for nearly 40 years, and its influence on our sport through tournament sponsorship and its involvement from day one 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 and FedEx’s influence, which will be felt for generations to come. We mourn the loss of a legendary business leader and philanthropist and offer our condolences to his family.”

Life Beyond Business

Smith launched FedEx in 1973 with a focus on faster parcel delivery, competing with the postal service. It grew into a global shipping leader, handling an average of 17 million packages per business day. He stepped down as CEO in 2022 but stayed on as executive chairman.

A Yale graduate in 1966, Smith served in the U.S. Marine Corps during the Vietnam War. He earned the rank of captain and was decorated for bravery and combat injuries. Smith later said that his experience in the military shaped how he led FedEx, more than anything he learned in school.

Though a well-known figure in Memphis, Smith stayed largely out of the public eye. He focused on family and business, though he did make a brief cameo in the 2000 film Cast Away, which starred Tom Hanks as a FedEx employee stranded on an island.

A Lasting Legacy

From building a global business to shaping major sports partnerships, Fred Smith’s impact was felt across industries. His influence will live on — through FedEx, the teams he supported, and the athletes who benefited from his generosity.

The Washington Commanders honored Smith 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 US Marine Corps. We send our sincere condolences to Mr. Smith’s family and loved ones, as well as our friends across the FedEx organization.”