On December 15, 1987, entrepreneur Jerry Richardson announced his bid for an NFL expansion franchise in the Carolinas. A North Carolina native, Richardson was a former wide receiver on the Baltimore Colts who had used his 1959 league championship bonus to co-found the Hardee's restaurant chain, later becoming president and CEO of TW Services. Richardson drew his inspiration to pursue an NFL franchise from George Shinn, who had made a successful bid for an expansion National Basketball Association (NBA) team in Charlotte, the Charlotte Hornets. Richardson founded Richardson Sports, a partnership consisting of himself, his family, and a number of businessmen from North and South Carolina were also recruited to be limited partners. Richardson looked at four potential locations for a stadium, ultimately choosing uptown Charlotte.