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Titans Interim CEO Underwood To Stay On Through '15, Reiterates Team Is Not For Sale

The Titans have put their plans "on hold" to hire a new President & CEO, as interim Steve Underwood "will remain in the position throughout the 2015 season, at which time ownership will re-examine its position," according to Jim Wyatt of the Nashville TENNESSEAN. Underwood, who initially retired from the franchise in '11, yesterday said that he "began accepting resumes and applications after he rejoined the Titans in March" after the departure of former President & CEO Tommy Smith. Underwood was "put in place to lead the search for Smith's replacement." But Underwood "never conducted an interview." He said, "Our ownership group, as the weeks went by, they got a better and better comfort level in the direction we're heading and they decided they'd rather put that off if I would decide to stay and get us through the season. ... Our club had already been through several transitions over the last 18 months, and I think the consensus of the group was it would be better not to make another change." Wyatt notes Susie Adams Smith and Amy Adams Strunk, the daughters of late Owner Bud Adams, currently have 33% ownership each of the "parent company that owns the Titans, and the family of Adams' deceased son, Kenneth Adams III, also has one-third ownership." In March, the "majority of the owners appointed Amy Adams Strunk as the owner who can represent the family and vote at the NFL owners meetings." Susie Adams Smith previously was the controlling owner in the family, but a "shift in thinking within the family resulted in big changes." The shift has "increased speculation about the possibility of a sale." But Underwood yesterday reiterated that the team "is not for sale" (Nashville TENNESSEAN, 6/17).

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