The slur occurred during a media training conference call in May between top staff at Papa John's and a marketing agency called Laundry Service.
Papa John's founder John Schnatter says his use of a racial slur was taken out of context, but he feels "sick" about the incident.
Schnatter owns almost 30 percent of the company's shares, which fell after the report but rebounded when he said he would depart as chairman.
During the call, he reportedly said "Colonel Sanders called blacks n--" and never faced backlash.
Target Field has announced it will "indefinitely suspend" the sale of Papa John's pizza following comments made by the company's former CEO, according to a Minnesota Twins spokesperson.
The Minnesota Twins have "indefinitely suspended" the global pizza chain from their Minneapolis stadium, Twins communications director Dustin Morse says.
NATO Braces for Trump Visit, But Fears May Be Overplayed
The NATO chief said that the Europeans and Canada are projected to spend around US$266 billion more on defence by 2024 . And, frankly, it helps them a lot more than it helps us. "I've said that many times for many years".
Schnatter used the offensive term while undergoing training on how to avoid future PR disasters with media agency Laundry Service, after he a year ago controversially blamed NFL national anthem protests for his company's sagging pizza sales.
Papa John's did not immediately respond to a request for comment on the report.
Other MLB teams that had promotions with Papa John's started to distance themselves from the company Thursday since team campaigns operate independently from the league.
Papa John's, based in Louisville, Kentucky, began operations in 1984 and had more than 5,200 locations globally. Oh, no, it was the "derogatory and insensitive comments" - the fact that he said one particular no-no word. The university's president said the school will evaluate the naming arrangement for Papa John's Cardinal Stadium, but noted that the matter involved contractual agreements, according to the Louisville Courier-Journal.
Schnatter's name will also be removed from the university's Center for Free Enterprise at its business school, university spokesman John Karman confirmed to The Post. Several people told Friedland how inappropriate and hurtful his use of the word was. He is also the company's biggest shareholder, with 30 percent of the stock. For the first three months of this year, the chain said a key sales figure fell 5.3 per cent in North America.
Papa John's is the world's third-largest pizza chain, with more than 350 outlets in the United Kingdom and 4,900 restaurants worldwide.