The bill wouldn’t be small. Forbes magazine valued the Redskins, who earned $381 million in 2012, at $1.7 billion in August. National NFL merchandising is worth $3 billion per year, split evenly between the league’s 32 teams, save the Dallas Cowboys, who have their own deal. The Redskins’ annual share of this pot is about $100 million.

So, how much of the value of the team is tied up in tomahawks and headdresses?

“There’s no doubt that if they would change the Coca-Cola brand name, it would be a serious problem for the brand,” said David Haigh, founder of Brand Finance, a brand-valuation company hired by big names such as Shell, Heineken and Vodafone. “Every brand is different. The Redskins have a football stadium, a franchise and a team that people come to watch. That’s not going to change if you change the name.”

Changing the name could be more profitable than keeping it. If the Redskins backlash grows, removing merchandise with the R-word from circulation could mean more sales of team gear, not less, as customers embrace a new nickname and shell out for rebranded jerseys, T-shirts, coffee mugs and banners.