No takers yet for one third of Titans

AP

At a time when plenty of potential buyers are lining up for the Carolina Panthers, a sizable chunk of the Tennessee Titans remains available for sale.

Since last August, Susie Adams Smith has been trying to sell her one-third stake in the team. So far, there have been no takers.

Per a source with knowledge of the situation, a fair amount of cursory interest has emerged, and multiple candidates have been close to buying the asset. At least one, according to the source, was “very close” to making the purchase.

The problem is this: Once the potential buyers understand that there is no path to acquiring control of the team, and once they realize that Amy Adams Strunk has no desire to sell her one-third interest or to relinquish control that was tentatively obtained from the other two branches of the Bud Adams family tree, the bidders walk away.

As a result, the league’s concerns about the ownership of the Titans still linger. Bud Adams spread the team equally among his three children’s families, but Adams did not give any one of them control. The NFL insists on one person having control, and the NFL has yet to force the situation to a head.

The easiest outcome could be for Strunk to purchase the 33-percent interest held by her sister. Then Strunk would hold 66 percent of the team, and clear and obvious control. Strunk, however, apparently lacks the resources or the interest in doing that.

Thus, ownership of the Titans will continue to be out of technical compliance with the league’s guidelines (from the NFL’s perspective), and the Titans will continue to operate the team in a way that the organization deems appropriate. And Susie Adams Smith will continue to wait for someone who is willing to acquire a major interest in — but no ability to control any portion of — a billion-dollar business enterprise.

10 responses to “No takers yet for one third of Titans

  1. If nobody wants to buy Adams-Smith’s 33% without the ability to have a say in the team, why not just break it up into smaller, more obviously minority-sized chunks and sell her stake piecemeal? A football team is a good investment and even an 11% stake might be a good stepping stone for someone hoping to own an entire franchise one day; get their foot in the door. There are a lot more people with $110M than there are with $330M I would think.

  2. I’m guessing that most of the wealth for these three owners is all tied up in their 3rd of the team, so they don’t have the ability to buy her piece. I’m surprised one of these sisters isn’t trying hard to acquire the 33%, keep some of that to have 51% of the team, then sell off the other 15% of the team to rich guys that just want to be part time NFL owners.

  3. Other than m’boy Marcus (need we even mention his last name lol) and T-wan (we know him too, right?), TT D(efense) is barren with no star playmakers. The Cam-rolina Panthers had a shutdown Corner (Josh Norman) but still have L-U-K-E, and “Dr.” Julius Peppers and Davis et al.

    TTs gotta “‘Titan’ up!” D(efense) if dey wanna play wit da Big Boyz in the AFC, e.g., New England, Pittsburgh, KCMO (Chiefs).
    Coach Vrabel, please draft some receivers — Delaney (TE) is cool, but he ain’t no Greg Olsen, man!

  4. I’m willing to part with an authentic game-stomped Terrible Towel soaked in LenDale White’s tears and cream-filling from the corners of his mouth…

    In exchange for FULL CONTROL.

    First order of business is changing the unis…AGAIN!

    Then changing the HC…AGAIN!

    Final offer, take it or leave it. #GetTheClubStrunk

  5. So the team, for another year, isn’t in compliance. Why doesn’t the NFL dock the Titans a 1st and 3rd round draft pick every year that they aren’t in compliance? Something tells me they’d have a majority owner real fast if that were to happen.

  6. Where are Diddy, Kaep & Curry? Isn’t 33% better than the 3 or 4% that you’d get if you were in a “group” that purchases a team.

    I’m just going to sit back to see if they can come up with 600 million 🙂

  7. I’m in. I can put down $2,000 and then we can negotiate the rest of the payment. Call me Titans!

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