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Why did James Watson sell his Nobel Prize?

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In 2014 James Watson sold his Nobel Prize for $4.1 million at auction. The money was donated to various educational institutions, including Cold Spring Harbor Laboratory in New York. Watson had been head of the laboratory (1968–2007) until he was forced to resign after saying the intelligence of Africans might not be the same as other peoples. Alisher Usmanov, a Russian businessman, purchased the Nobel Prize, which he then returned to Watson.