The college football fan who has helped raise more than $1 million for the University of Iowa's children's hospital after holding up a sign on ESPN's College GameDay has apologized for racist tweets sent as a teenager.

Carson King, 24, released a statement Tuesday night to address two racist tweets after being asked about them earlier in the day by the Des Moines Register.

"I had no recollection of it. In re-reading it today -- eight years later -- I see it was an attempt at humor that was offensive and hurtful," King said. "I am embarrassed and stunned to reflect on what I thought was funny when I was 16 years old. I want to sincerely apologize."

The tweets have since been deleted, but King said in his statement that he was quoting the Comedy Central show "Tosh.0."

King held up a sign during College GameDay's appearance at Iowa State on Sept. 14 before the Cyclones' game against Iowa. The sign said "Busch Light Supply Needs Replenished" and included his Venmo username.

Money began pouring in, and King said he would be donating the money to the Stead Family Children's Hospital in Iowa City. After that, a number of companies agreed to contribute as well. According to King, the account was at $1.14 million as of Tuesday.

Anheuser-Busch InBev, Busch Light's parent company, said Tuesday that it will cut ties with King but will still make its donation to the children's hospital.

"Carson King had multiple social media posts that do not align with our values as a brand or as a company and we will have no further association with him," the company said in a statement. "We are honoring our commitment by donating more than $350,000 to the University of Iowa Hospitals and Clinics."

Anheuser-Busch also said it will no longer give King a free year of Busch Light that included special cans with the man's face on them.

King said he hopes to show he has learned from his mistakes and thanked those who have contributed.

"I cannot go back and change what I posted when I was a 16-year-old," King said in his statement. "I can apologize and work to improve every day and make a meaningful difference in people's lives.

"And, I am so very thankful for the generosity of the thousands of people who have donated to our fundraising path for the Stead Family Children's Hospital."