Papa John’s owner and CEO says his pizza company’s sagging third-quarter earnings are caused in part by the NFL’s national anthem demonstrations and “poor leadership” at the top in the NFL. He said he expects it “to persist” until “a solution is put in place”.
His company has been the most recognized NFL sponsor for the past two years he said until the protests.
The net worth of John Schnatter, founder and CEO of pizza chain Papa John’s, fell $70 million in less than 24 hours after the company released its third-quarter financial report on Tuesday afternoon.
“This should have been nipped in the bud a year and a half ago,” John Schnatter said in prepared remarks (via Chris Otts of WDRB.com). “Like many sponsors, we are in contact with the NFL and once the issue is resolved between the players and the owners, we are optimistic that the NFL’s best years are ahead. But good or bad, leadership starts at the top, and this is an example of poor leadership.”
He’s right, Goodell should have and could have shut it down with Kaepernick.
“Leadership starts at the top, and this is an example of poor leadership,” Schnatter told investors on a Wednesday conference call, according to Bloomberg.com. “The NFL has hurt us by not resolving the current debacle to the players’ and owners’ satisfaction … The NFL has hurt Papa John’s shareholders.”
Schnatter said that the practice of players kneeling during the anthem to raise awareness of police brutality and social injustice could have been stopped back when Colin Kaepernick began doing it during preseason games in the summer of 2016.
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Stock for the Louisville-based company, which is one of the NFL’s biggest TV advertisers, was down about 12 percent in trading Wednesday after it cut expectations for earnings and sales growth for the full year.
Company shares are down about 23 percent in one year, since the kneeling became a problem.
The boycotters on social media listed the major sponsors and said to go after them until the disrespect stops.
Naturally the media is blasting Schnatter and insulting his pizza.
Roger Goodell stopped Dallas Cowboy players from wearing decals to honor the murdered police and he stopped another player from wearing patriotic cleats on 9/11, but the leftist disrespect is okay with him.
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