Car and home insurance company Belairdirect say they will cut ties with the CFL's Edmonton Eskimos as a sponsor if they don't change their team name in the "near future," according to Matthew Black of CTV News.

"At Belairdirect one of our core values is respect, which is founded on seeing diversity as a strength, being inclusive and collaborative," the company said in a statement. "In order for us to move forward and continue on with our partnership with the Edmonton Eskimos, we will need to see concrete action in the near future including a name change. We have shared our position with the team."

The Eskimos released a statement Friday saying they will increase their engagement with Inuit communities to assess their views on the team's name.

"The Edmonton Eskimos conducted an extensive research and engagement program with Canada's Inuit community regarding our team name," the statement read.

"We announced the findings from that program several months ago which included the fact that there was no consensus among the Inuit people and considerable support for the Eskimos name among Inuit in various parts of Northern Canada. We recognize that there has been increased attention to the name recently and we will ramp up our ongoing engagement with the Inuit communities to assess their views."

Belairdirect sponsors the team's 50/50 draw at Commonwealth Stadium.

Last week, the owner of Washington's NFL team, Dan Snyder, said the team would review their name after pressure from fans and sponsors while the MLB's Cleveland Indians are also reviewing their team name.