He stepped down as CEO of Papa John's in January after he blamed players protesting during the national anthem as the reason for the drop in company sales. Papa John's still retains marketing deals with 22 National Football League teams.
Manning first picked up 21 Denver Papa John's franchises when he signed with the Broncos in 2012.More news: Germany to finally have a new gov't as SPD agrees in referendum
The NFL's ratings tanked 9.7 percent last season, following an eight percent dip from the year before.
Manning will stay on board as an official spokesperson and brand ambassador for Papa John's. He's also letting go his stake in the company as a whole.More news: Amazon is aware that Alexa is scaring people with seemingly random laughter
Retired NFL great Peyton Manning sold off his stake in 31 Papa John's franchises just two days before the league and pizza chain split up their longtime partnership, the Denver Post reported Tuesday.
"NFL leadership has hurt Papa John's shareholders", Schnatter said in a November earnings call with analysts. Who knows! Maybe the offer was too good to pass up, maybe he was losing money, maybe he secretly hates Papa John, maybe he was just exhausted of the pizza game.
Papa John's apologized two weeks later, after white supremacists praised Schnatter's comments.More news: Microsoft is ditching Windows 10 S for 'S Mode'
"The new Denver market franchisee is an existing Papa John's franchisee that owns a substantial number of Papa John's locations in large markets, upholds the promise of better pizza and is a strong community partner", the company said. Global sales lifted 2.6 percent and 4.4 percent in the fourth quarter and full year, respectively.
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