Jerry Richardson announced Sunday that he will put the Carolina Panthers up for sale after the season.
Richardson is the subject of sexual and racial misconduct allegations that the NFL is reportedly investigating.
In a letter on the team's website, Richardson announced he felt it's time for new ownership, but that the sale process won't begin until the 2017 season is officially over.
There has been no greater mission or purpose in my life than to have brought an NFL franchise to Charlotte. The obstacles back then were significant, and some even questioned whether our community could or would support professional football. But I always knew that if given the chance, The Carolinas would rise to the occasion.
And you have. The team has become an integral part of our community. The stadium is in its best condition since the day it opened. And we have played in two Super Bowls.
Football is also an integral part of my life - and I am blessed, every day, that I made the Carolinas my home. I can never repay all of you for the kindness and generosity you have shown me, Rosalind, and my family for more than two decades. We have the best fans in football - and I truly mean that. In my opinion, we also have the best organization, and they have served us well.
I believe that it is time to turn the franchise over to new ownership. Therefore, I will put the team up for sale at the conclusion of this NFL season. We will not begin the sale process, nor will we entertain any inquiries, until the very last game in played. I hope everyone in this organization, both on and off the field, will be firmly focused on just one mission: to play and win the Super Bowl.
While I will no longer be the team owner, I will always be the Panthers Number One fan.
With respect. Always.
Jerry Richardson
Sports Illustrated released a story earlier in the week that four former Panthers employees received monetary settlements due to inappropriate workplace comments and conduct by Richardson. These allegations included incidents of sexually suggestive language and behavior, as well as a racial slur being directed at an African-American employee.
The 81-year-old has owned the team since its inception in 1993.
