Who Is Jerry Richardson? Allegations Against Carolina Panthers Owner, Net Worth And Current Status

Carolina Panthers owner Jerry Richardson announced Sunday that he will sell the NFL franchise at the conclusion of the season after allegations surfaced of sexual misconduct and racist language.

Sports Illustrated reported Sunday that Richardson had paid at least four former Panthers employees "significant" monetary settlements due to inappropriate workplace comments. Richardson had allegedly implemented a "Jeans Day" on Friday to admire female employees' backsides.

The report indicated Richardson had said to women, "Show me how you wiggle to get those jeans up," and "I bet you had to lay down on your bed to fit into those jeans," as well as, "Did you step into those jeans or did you have to jump into them?"

Richardson had also reportedly directed a racial slur at an African-American scout.

Reports of Richardson's conduct surfaced Friday, with the Panthers announcing they had opened an investigation. The NFL announced on Sunday morning that they would be taking over the investigation.

Richardson, 81, grew up in North Carolina. He played halfback/tight end for Wofford College in South Carolina and then spent two seasons with the Baltimore Colts.

Richardson used the money he earned from his playing days to open a Hardee's restaurant in Spartanburg, South Carolina. With business partner Charles Bradshaw, Richardson eventually grew their operation to over 500 locations. He later became the CEO of food-services company Flagstar, which operated diner-style restaurant-chain Denny's.

The Panthers played their first season in 1995. Richardson and his ownership group paid $206 million in 1993, with Richardson owning 48 percent of the team. The Panthers are the 21st most valuable team of the 32 NFL franchises at $2.3 billion, according to Forbes.

Richardson has an estimated net worth over $1.1 billion.

In 2013, the Charlotte Business Journal reported that Richardson wanted the team sold within two years of his death.