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\nThe University of Louisville Athletic Association will pay Papa John’s founder John Schnatter $9.5 million over 5\u00bd years in a settlement to terminate the pizza chain’s naming rights to Cardinal Stadium.<\/p>\n
\nThe University of Louisville Athletic Association will pay Papa John’s founder John Schnatter $9.5 million over 5\u00bd years in a settlement to terminate the pizza chain’s naming rights to Cardinal Stadium.<\/p>\n
The school last year removed the Papa John’s name and logo from the 60,800-seat stadium amid fallout from a report that Schnatter used a racial slur during a company conference call.<\/p>\n
Some Cardinal players had also called for its removal. University of Louisville Athletic Association and the Board of Trustees approved the agreement Thursday that will immediately pay Schnatter $1.5 million with four subsequent annual payments of $2 million every July.<\/p>\n
Louisville athletic director Vince Tyra said the settlement allows the school to reclaim and resell naming rights to help pay the remaining installments.<\/p>\n
The naming rights agreement ran through 2040. Tyra suggested the next deal would be shorter and added they would try to get that done by next season.
\nSource: AP<\/p>\n","protected":false},"excerpt":{"rendered":"
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