Dan Snyder's team will no longer be referred to as the Washington Redskins.
The team announced Monday that it will be retiring the team nickname and logo. A new team name will be announced at a later date.
"Today, we are announcing we will be retiring the Redskins name and logo upon completion of this review," the team said in a statement. "Dan Snyder and Coach (Ron) Rivera are working closely to 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 team announced on July 3 it would undergo a thorough review of the team's name. Monday's announcement was an effort to keep "sponsors, fans and community apprised of our thinking as we go forward."
The organization had been known as the "Redskins" since 1933. Former owner George Preston Marshall moved the team from Boston to D.C. in 1937.
On July 2, a group of 87 investment firms and shareholders signed three separate letters to Nike, FedEx and PepsiCo threatening to terminate relationships with the team unless it dropped the racially insensitive name. Later that day, FedEx, the company with naming rights to the team's stadium, formally requested the franchise take action. The review began the following day.
The team will continue to deal with legal and other issues as it works toward establishing a new team name before the start of the 2020 season.