Peyton Manning Sold His Stake In Papa John's Franchises

Papa John's is out of the NFL business. Now, former NFL superstar Peyton Manning is out of the Papa John's business... at least in part.

It has been a tumultuous year for Papa John's. During the NFL season, the company's eponymous founder John Schnatter made news criticizing the league.

As players protested during the national anthem, Schnatter criticized league leadership, blaming down sales in part due to "NFL challenges." The league's now-former pizza partner was probably the most highly publicized critic.

Just months later, the worm turned on Schnatter. He stepped down as company CEO, although he remains its main spokesman.

In late February, Papa John's deal with the NFL ended, opening up a major sponsorship slot for the league. In its announcement about the move, the company says it will shift focus to the 22 individual teams that have Papa John's as a sponsor.

Now, the company has lost a prominent football-related investor. Former Indianapolis Colts and Denver Broncos superstar quarterback Peyton Manning has sold his shares in the 31 franchises that he bought six years ago.

Papa John's released a statement on Peyton Manning's decision. From KDVR:

“After six successful and rewarding years, Peyton Manning and Papa John’s International have sold their stake in 31 Papa John’s locations which were part of a joint-venture in the Denver Colorado market,” a spokesman for Papa John’s said in a statement to FOX31 and Channel 2.

“Peyton remains an official Papa John’s spokesperson and brand ambassador as part of his long-term agreement with the brand,” the company said.

As the statement says, Peyton Manning remains a spokesperson and ambassador for the pizza chain.

However, it does raise questions about what his role will be. Without Papa John's serving as the league's official pizza sponsor, and without a direct investment, it stands to reason that Manning could phase himself out.

Manning's purchase of the stores coincided with the NFL's decision to renew its sponsorship back in 2012. The two pieces of news came on the same day.

News of the end of the NFL sponsorship hurt had an immediate impact on Papa John's stock price. On February 27, ESPN's Darren Rovell reported that shares were down seven-percent right after the news.