DENVER — Peyton Manning sold his stake in 31 Papa John’s locations in the Denver metro area, the company said Tuesday.
The former Broncos quarterback and Papa John’s sold the stores to an existing Papa John’s franchisee that owns locations in other major markets.
“After six successful and rewarding years, Peyton Manning and Papa John’s International have sold their stake in 31 Papa John’s locations which were part of a joint-venture in the Denver Colorado market,” a spokesman for Papa John’s said in a statement.
“Peyton remains an official Papa John’s spokesperson and brand ambassador as part of his long-term agreement with the brand.”
Manning bought the stores in 2012 while he was playing for the Broncos.
The company said the new franchisee plans to rehire the existing employees at the stores.