The circus surrounding Titans management never ends. According to the Houston Chronicle, Susie Adams Smith is planning to sell 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.
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 various other descendants of Adams. 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. The Titans have had issues with the NFL's compliance laws regarding ownership in the past. Adams Strunk was hit 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 team has been stuck in limbo since the passing of Adams, who didn't leave a succession plan in place. Ever since, the Titans have been stuck in a strange ownership state that just got even stranger.