Papa John's stock fell by 10 percent on Wednesday following a disappointing sales report.

Third-quarter sales rose 1 percent at established locations in North America, which it said was below what the company had expected. In the same period a year ago, sales rose 5.5 percent at established locations.

Papa John's is a longtime sponsor of the NFL and company leadership cited the league's drop in ratings, which are due to a number of factors, as a reason for their own issues.

"NFL leadership has hurt Papa John's shareholders," said the chain's CEO John Schnatter, in a call with analysts Wednesday. "This should have been nipped in the bud a year and a half ago."

Executives at chicken wing chain Buffalo Wild Wings Inc. said last week that the company didn't expect declining NFL viewership to hurt a key sales figure.

A representative for the NFL did not immediately respond to a request for comment Wednesday.