Louisville has all but washed its hands of one of its one-time megaboosters.
Last summer, Louisville moved quickly to distance itself from the controversy surrounding racist remarks made by that booster, John Schnatter, better known as the founder of the Papa John’s pizza chain. In the ensuing days, the university removed the Papa John’s name and logo from Cardinal Stadium, home of the football Cardinals, signage that had been part of a naming rights agreement that was scheduled to run through the year 2040.
WDRB-TV in Louisville wrote that Schnatter had owned “the naming rights to what is now called Cardinal Stadium through 2040 as part of a series of deals that date its construction in 1990.” Thursday night, the university confirmed that a settlement agreement has been reached between Schnatter and the University of Louisville Athletic Association that will revert the naming rights back to the school.
In exchange, Schnatter will receive a total of $9.5 million over the next five-plus years. An immediate payment of $1.5 million will be made, with an additional $2 million annually being paid over each of the next four years.
It’s expected that the university will secure a new title sponsor for Cardinal Stadium before the start of the 2020 season.
