Oregon State suspends Papa John's sponsorship

Bomani wishes farewell to Papa John (0:57)

Bomani Jones is happy John Schnatter is out as a Louisville trustee after his use of the N-word during a conference call. (0:57)

Oregon State has suspended its sponsorship with Papa John's, school vice president and athletic director Scott Barnes announced Monday.

The move comes days after John Schnatter, the corporation's founder, admitted to using the N-word during an internal conference call.

"The derogatory and insensitive comments made by Papa John's founder John Schnatter are not reflective of Oregon State University's values and the inclusive environment we strive to foster throughout the university community and within OSU Athletics for all student-athletes and fans," Barnes said in a statement on Monday.

Louisville president Neeli Bendapudi announced Friday the school will strip the Papa John's name from its football stadium, renaming it Cardinal Stadium. Bendapudi also said that the school would take Schatter's name off the Center for Free Enterprise inside the business school. The changes are effective immediately.

"By taking this action, we renew our community's commitment to speaking up when it matters, doing what is right and coming together as one team -- our Cardinal family -- to heal and move forward," Bendapudi said at news conference at Louisville.

Schnatter resigned from Louisville's board of trustees and as the pizza chain's chairman.