(Bloomberg) -- Carolina Panthers owner Jerry Richardson put his National Football League franchise up for sale, hours after the league said it had taken over an investigation into allegations of workplace misconduct.
“I believe it is time to turn the franchise over to new ownership,” Richardson, 81, said in a letter posted on the team’s website Sunday night. “Therefore, I will put the team up for sale at the conclusion of this NFL season.”
Sports Illustrated reported Sunday that at least four former team employees had received settlements stemming from accusations of racist comments or sexual harassment by Richardson, the team’s sole owner since it entered the NFL in 1995. The Panthers have played in two Super Bowls and are in strong position to make the playoffs again this season.
Richardson won an NFL championship as a receiver with the old Baltimore Colts and later made his fortune in the fast-food business before winning an expansion franchise for Charlotte. The team is d by Forbes at $2.3 billion.
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