A Tennessee Titans owner is selling one-third of team
One of the owners of the Tennessee Titans is selling her one-third stake in the National Football League franchise.
Susie Adams Smith is selling her shares of the team’s parent company, Houston-based KSA Industries, which includes a one-third stake in the Titans and a range of businesses outside sports, including oil and gas. Any buyer would also be investing in those businesses, which include water rights in California, Texas real estate, a Houston auto dealership and Adams Resources & Energy.
Her stake in the team is worth about $660 million based on its 2016 valuation of $2 billion, according to Forbes Magazine. It ranked the team 24th most-valuable in the 32team league. Smith’s sister, Amy Adams Strunk, also owns one-third of the Titans and, according to the team, serves as controlling owner. The final third is owned by other descendants of Bud Adams, who died in 2013.
“Amy Strunk before, after and during the sale will remain in full and complete control of Titans operations,” said Steve Underwood, the team’s CEO. 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 it’s in compliance with league rules.
The Titans, formerly the Houston Oilers, relocated to Tennessee in 1997.