Carolina Panthers' Owner to Sell Franchise Amidst Misconduct Allegations

The Carolina Panthers announced on Sunday that their owner, Jerry Richardson, will sell the NFL franchise amidst an investigation into allegations of sexual misconduct and alleged racist comments in the workplace.

The team informed the decision via a tweet, which included a link to a five-paragraph letter written by the Panthers' sole owner.

"I believe it is time to turn the franchise over to new owners," Richardson stated in the open letter. "Therefore, I will put the team up for sale after the conclusion of the NFL season."

Richardson was granted the expansion franchise by the NFL in 1993 and has been its sole owner since then.

The letter did not make direct reference to the investigation.

The announcement comes after a Sports Illustrated article cited anonymous sources claiming that Richardson made sexually suggestive comments to women in the workplace and, on at least one occasion, made a racist insult towards a Panthers' scout.