The Washington Redskins confirmed Monday the team is changing its name following pressure from sponsors over a moniker widely criticized as a racist slur against Native Americans.

Washington had announced earlier this month that the Redskins name had been placed under review after a wave of rallies against racial injustice swept across the United States following George Floyd’s death in Minneapolis on May 25.

“Today, we are announcing we will be retiring the Redskins name and logo upon completion of this review,” Washington said in a statement on Monday.

A replacement name was still being worked upon, the statement added.

Native American leaders had written to the NFL commissioner last week demanding an immediate change of the team’s name, logo and mascot.

The team’s plan to announce the retirement of its name on Monday was reported earlier according to multiple sources cited by The Washington Post, ESPN and USA Today, among others.

Sports Business Daily said a new name will not be announced immediately because of ongoing trademark issues, but quoted one source as saying: “The team felt it was important to remove any doubts as to the future of the name.”

The development follows pressure from sponsors over a moniker widely criticized as a racist slur against Native Americans. Team owner Dan Snyder had long resisted calls to change the name, but came under renewed scrutiny.

Intense pressure from the team’s most powerful corporate partners are widely believed to have forced the move.

FedEx, which purchased the naming rights to the team’s stadium through to 2025 for $205 million, confirmed earlier this month it had requested the change.

“We believe it is time for a change,” PepsiCo had said, while Nike removed the team’s merchandise and gear from its website.

Bank of America said as a sponsor, it had “encouraged the team to change the name”.

NFL chief Goodell had also lobbied the team behind the scenes to consider a name-change, according to reports.

The team was established in 1932 as the Boston Braves and took on its current name in 1933 before moving to Washington DC four years later.

Until now, team owner Snyder had emphatically rejected requests to drop the Redskins tag.

“We’ll never change the name,” he told USA Today in 2013. “It’s that simple. NEVER – you can use caps.”

President Donald Trump meanwhile had criticised Washington’s announcement that the team name was under review.

“They name teams out of STRENGTH, not weakness, but now the Washington Redskins & Cleveland Indians, two fabled sports franchises, look like they are going to be changing their names in order to be politically correct,” Trump tweeted last week.

Washington’s statement on Monday said Snyder and head coach Ron Rivera were “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 Washington Post reported that the team had a preferred choice for a replacement name, but were working through trademark issues surrounding the tag.

Rivera, one of only a handful of minority head coaches in the NFL, said earlier this month that he believed the new name be respectful of Native American culture and the military.

(With AFP inputs)