The Titans remain non-compliant with the NFL's ownership bylaws and have already been sanctioned by the league once for their failure to conform, according to multiple sources with knowledge of the situation.
Acting owner Amy Adams Strunk, who continues to maintain she will not sell the franchise but has of yet presented no plan to keep it herself that would comply with NFL rules, was hit with a significant, six-figure fine earlier this year, sources said. She appealed the ruling but "was granted no relief," according to a league source.
The NFL declined to comment on this matter when reached for comment.
The future of the Titans remains a topic of considerable interest in league circles, with the team's ownership in flux since the passing of patriarch Bud Adams, who did not have a clear succession plan in place. As a result, the franchise was placed in a trust. His heirs have not always been in agreement about whether to keep or sell the team, sources said, and while the heirs have made Strunk their controlling partner, the franchise is still not compliant with NFL mandates on what constitutes a single owner with full legal control of the team.
The NFL is continuing to work with the Titans to fulfill this obligation, but as of now there is no imminent solution (a potential solution would be for Strunk to buy out the other two-thirds controlling interest of the team in the trust, though that would require massive liquidity). The situation is ongoing and fluid, and while the NFL is not considering any further discipline right now, the potential for further fines down the road is real, sources said, assuming a solution isn't found.
"The league isn't just going to let this go," as one source put it. "This will have to be resolved."
Several other owners continue to believe that, barring Strunk making the rest of her family whole, the Titans will eventually hit the market, where there would be no shortage of suitors. Jon Bon Jovi, who failed in his bid to purchase the Bills, remains keenly interested in the Titans, ownership sources say, and many close to Peyton Manning believe the Titans are the one team he would seriously consider owning at least a portion of and serving in a team president type of role.