He bought three units in a new condominium-and-residence complex in Deer Valley for about $23 million, The Wall Street Journal reported. "I agreed, though today I believe it was a mistake to do so", Schnatter said.
The disgraced founder of Papa Johns decided that he should play the victim in his controversial situation.
In the letter Saturday, Schnatter said that incident was also mishandled by the company's leadership "from a public relations standpoint" and that what he said was not racist.
Schnatter, no stranger to controversy, admitted he used the racial slur - but said the company's marketing firm had "pushed" him to use it.
Schnatter's resignation came after it emerged that he had used the n-word and graphically described lynchings on a call with Papa John's marketing agency.
Rob Kim via Getty Images Schnatter, who founded Papa John's in 1984, resigned as CEO of his company in January following backlash over his response to the NFL national anthem protests. He claims that the company demanded millions "to make it go away".
The pizza chairman then allegedly spoke of growing up in IN, where the outlet reports that he said "people used to drag African-Americans from trucks until they died".
Papa John's announced late Sunday that Schnatter was prohibited from speaking to the press, was being removed from the company's advertising materials and that a special committee of independent directors revoked his office space at its Louisville, Kentucky, headquarters.
'Yeah, they tried to extort us.
Neither Laundry Service or Papa John's have publicly commented on his allegations. "But they actually wanted to get into that vocabulary, and I said absolutely not". The MLB said it is also suspending its "Papa Slam" pizza promotion during games.
The outspoken executive has been in hot water since last week when a transcript of an internal May conference call was leaked that revealed Schnatter had used the N-word.
The revelation of the N-word comments forced him to step down as chairman.
In the original announcement, Bendapudi said she'd spoken to Schnatter before announcing the removal of his name from the stadium and business school's Center for Free Enterprise.