Schnatter said in a statement that the reports were true, calling the language he used "inappropriate and hurtful". Regardless of the context, I apologize. Schnatter had left his position as CEO of Papa John's, which was an official sponsor of the NFL, in December after saying that NFL players should stand for the national anthem, and that the controversy around the issue had hurt the company's sales.
Commenting on the outburst, the University of Louisville said: "After speaking with John, I'm confident that his comments, while inappropriate, do not reflect his personal beliefs or values".
The city of Jeffersonville, Ind., had plenty of reason to add John Schnatter's name last year to its 80-year-old gymnasium.
Company shares fell as much as 5.9 per cent on Wednesday to US$47.80 near midday, the lowest intraday level since February 2016.
Okay, so on one hand, it's good Schnatter is admitting his fault in using the slur.
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Columbus police have not confirmed any arrest, and neither have Siren's Gentlemen's Club. CNN has reached out to the Columbus Police Department for additional information.
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Although Schnatter apparently was trying to show that he's opposed to racism (gutsy move, John), multiple persons on the call found Schnatter's remarks to be offensive.
Forbes first detailed the n-word incident earlier today; Schnatter was reportedly on a conference call with Laundry Service - a company that works in marketing and specializes in things like public relations campaigns - when he uttered the word.
University of Louisville Board of Trustee member John Schnatter listens to the discussion regarding employment of athletic director Tom Jurich, Wednesday, Oct. 18, 2017.
A separate statement by Papa John's, also released to Forbes Wednesday, condemned racism "and any insensitive language, no matter the situation or setting".
The conference call arranged in May was meant to discuss with Schnatter how to distance from racist groups online, following the National Football League incident, reported Forbes.
Papa John's Pizza's vocal chairman, John Schnatter, is under fire again.
Schnatter, 56, stepped down as Papa John's CEO in January.