Titans co-Owner Susie Adams Smith is "selling her shares" of the team's parent company, Houston-based KSA Industries, including her "one-third stake in the Titans," according to Scott Soshnick of BLOOMBERG NEWS. Smith's sister, Titans Controlling Owner Amy Adams Strunk, "also owns one-third" of the team. The final third is "owned by other descendants" of late team Owner Bud Adams, who died in '13. Sources said that the sale "doesn't include a path to control of the franchise." Titans CEO Steve Underwood said, "Amy Strunk before, after and during the sale will remain in full and complete control of Titans operations. Literally nothing will change about our day-to-day operations." Soshnick noted the Titans and NFL "have been at odds over whether the ownership structure complies with league rules because there is no single majority partner." The team has said that it is "in compliance with league rules." A source said that Goldman Sachs Partner Dave Dase is "overseeing the sale process" (BLOOMBERG NEWS, 8/8). In Houston, Kennedy & Wilkinson noted Smith was previously the team's controlling owner, but Strunk "took over" the role in '15. Smith's husband, Tommy Smith, "resigned as the team's CEO" in March '15 (BIZJOURNALS.com, 8/8).
STILL FIGURING THINGS OUT: In Nashville, Jason Wolf notes it is "unclear whether Strunk is willing or able to purchase any portion of Smith's interest" in KSA Industries (Nashville TENNESSEAN, 8/9). Football writer Paul Kuharsky wrote it would be a "huge outlay of cash for Strunk to buy her sister's stake and if such a deal could be struck it probably would have happened already" (PAULKUHARSKY.com, 8/8). PRO FOOTBALL TALK's Mike Florio noted some observers will "assume that the move will solve the league's lingering concerns regarding the ownership of the team." However, a source said that a sale "could actually make things worse." The other two branches of Titans ownership now may "end up in the exact same posture with a stranger to the family ultimately joining the organization and arguing that he/she should run the show" (PROFOOTBALLTALK.com, 8/8).
