Carolina Panthers owner Jerry Richardson to put team up for sale amid sexual misconduct allegations

Panthers Owner Jerry Richardson. (Photo by Streeter Lecka/Getty Images)

CHARLOTTE, N.C. – Following Sunday’s win over the Packers, Carolina Panthers owner Jerry Richardson announced in a statement he would be putting the franchise up for sale at the conclusion of the 2017-18 season.

“I believe that it is time to turn the franchise over to new ownership,” said Richardson in his letter. “We will not begin the sale process, nor will we entertain any inquiries, until the very last game is played.”

Monday, the team announced Richardson is stepping aside immediately and longtime employee Tina Becker will assume full control of day-to-day operations.

Sports Illustrated reported Sunday morning that Richardson and the Panthers had settled with multiple former employees due to sexual misconduct. The report also alleged Richardson used racial slurs during his tenure with the franchise.

This report comes after the Panthers announced that an internal investigation was being conducted into the allegations on Friday.

Richardson, 81, founded the Panthers in 1993 when the league awarded him with the expansion franchise. He is the first former player to own an NFL team.