The Washington Commanders have to find a new naming rights sponsor for their stadium. Shipping giant FedEx ended the current deal two years in advance.

FedEx has ended its agreement with the team for the naming rights to the stadium early – two years ahead of the actual expiration date. This was reported by the Washington Post.

The shipping giant had signed a 205 million dollar deal in 1999 to name the arena of the Washington-based franchise FedExField.

The move will likely deprive the Commanders of around 15 million dollars in remaining revenue from the contract.

Commanders apparently surprised by FedEx decision

The partnership outside of FedEx’s stadium naming rights with the franchise will remain in place, however, as will the company’s long-standing sponsorship deal with the NFL.

Two unnamed people familiar with the decision, according to the report, said FedEx had exercised an opt-out clause before the end of 2023 that resulted from the sale of the team last July.

The decision apparently came as a surprise to the Commanders amid renewed interest from fans and an influx of new sponsors, they added.

“We thank FedEx Corporation for their longtime sponsorship of the naming rights and their work with our team and community and look forward to their continued partnership within the Commanders family,” the team wrote in a statement obtained by The Washington Post.

“We have already begun the process of identifying our next stadium naming rights partner – a partner that will play a critical role in not only ushering in the next era of Commanders football, but also hosting an extensive lineup of top live events and concerts.”

The team’s naming rights agreement with FedEx, which was finalized shortly after Dan Snyder originally purchased the franchise from the estate of Jack Kent Cooke for $800 million, was initially hailed as a landmark deal for the franchise. However, according to the report, the relationship between the team and FedEx became increasingly strained over the years in the wake of the affair surrounding the ex-owner.