As the Titans prepare for their Saturday’s preseason game against the New York Jets, one of the minority owners has put their share up for sale. Susie Adams Smith (a daughter of the late founder and chairman, K.S. “Bud” Adams) announced she would sell her interest in the team.
The stake is valued at approximately a third of the $2 billion worth of the Titans, based on Forbes’ 2016 assessment of the team. That would put the shares up for sale at a value of about $660 million. Since Bud Adams’ death in 2013, the team has been shared by Adams Smith, her sister Amy Adams Strunk and a few of Bud’s descendants. Per the Titans, Adams Strunk is and will continue to be the controlling owner.
“Amy Strunk before, after and during the sale will remain in full and complete control of Titans operations,” said CEO Steve Underwood. In the past, the Titans have had issues with NFL Compliance Rules regarding ownership. Amy Adams Strunk was penalized with a six-figure fine in 2016 after she said she intended to keep the team, but she has been unable to lay out a plan to do so. It was rumored that one method would be for Adams Strunk to buy the remaining two-thirds of the team, but this decision only further makes that plan impossible.
The Houston Oilers relocated to Nashville after the 1996 season and were rebranded as the Tennessee Titans in 1999.