University of Louisville President Neeli Bendapudi has announced the university is renaming its football stadium to "Cardinal Stadium," removing the Papa John's sponsorship.

"Over the last 24 hours our community has been fractured by the comments made by former UofL trustee John Schnatter," Bendapudi said in a news conference Friday afternoon.

Schnatter admitted to using a racial slur during a May conference call following a Forbes report.

The university has also decided to remove Schnatter's name from the Center for Free Enterprise.