Peyton Manning sells stake in all of his 31 Papa John's stores
Papa John's can kiss Peyton Manning goodbye.
The former Broncos quarterback sold off his stake in 31 Denver-area Papa John's locations just two days before the NFL dropped the pizza giant as its official pizza sponsor, according to the Denver Post.
Manning first picked up 21 Denver Papa John's franchises when he signed with the Broncos in 2012.
The two-time Super Bowl winner’s stake was part of a joint venture with Papa John's International, and a spokesperson confirmed to the Denver Post that Manning sold his stake after "six successful and rewarding years."
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An existing Papa John's franchisee who has stake in several big-market locations has acquired the 31 stores from the five-time MVP.
Manning is not completely divorcing from Papa John's, though. He will continue to act as the celebrity spokesman and brand ambassador as part of a long-term contract he has with the franchise.
When Manning won Super Bowl 50 with the Broncos two years ago, he was seen kissing former Papa John's CEO John Schnatter as the game ended.
Things have not gone well for Schnatter since.
He stepped down as CEO of Papa John's in January after he blamed players protesting during the national anthem as the reason for the drop in company sales.
On Feb. 28, the NFL and Papa John's made a joint statement that the franchise would no longer be the official pizza of the league. That designation now belongs to Pizza Hut.
Papa John's still has marketing deals with 22 of the 32 NFL teams.
