Tennessean writers break down Titans Training Camp Day 8
George Walker IV/USA TODAY NETWORK-Tennessee
A one-third stake in the Titans can be yours for approximately $660 million.
Susie Adams Smith is selling her share of the Titans’ parent company, KSA Industries, which was founded by her late father, Kenneth Stanley “Bud” Adams. The company includes several businesses in addition to the NFL franchise, including oil, gas and real estate ventures. Forbes valued the Titans at $2 billion in 2016, making it the 24th most-valuable franchise in the league.
Amy Adams Strunk, Smith’s sister, also owns one-third of the company and will remain the team’s controlling owner, a role she has held since replacing Smith in March 2015. It is unclear whether Strunk is willing or able to purchase any portion of Smith’s interest in the business.
The Titans released a statement from Strunk on Tuesday afternoon:
“Recently Susie (Smith) began the process of selling her portion of KSA Industries, which includes a fractional indirect interest in the Tennessee Titans. We respect her right to make this decision and will cooperate fully with the process, which will not impact team operations in any way.
“Regardless of the outcome of this process, I will continue to serve as the controlling owner of the Titans. The remaining two-thirds of the team controlled by myself, Kenneth Adams IV, Barclay Adams and Susan Lewis is not and has never been for sale.
“Both personally and as a group, we have invested time, effort and capital to improve this franchise and we are excited to see the results on and off the field for years go come.”
Earlier Tuesday, Titans president and CEO Steve Underwood told Bloomberg: “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.”
The NFL and Titans have been at odds over whether the team’s ownership structure complies with league rules. At issue is Bud Adams’ decision to bequeath three equal shares of the franchise to his descendants upon his death in October 2013.
Strunk and Smith each own 33 percent of the…