Tennessee Titans controlling owner Amy Adams Strunk announced Tuesday that a "fractional indirect interest" of the team is in the process of being sold and the move would "not impact team operations in any way."
Susie Adams Smith, who owns one-third of the Titans, is currently in the process of offering her interest in KSA Industries Inc., which includes a stake in the team. Strunk, Kenneth Adams IV, Barclay Adams and Susan Lewis collectively own the other two-thirds of the franchise, which "has never been for sale."
According to the team's official website, the NFL is aware of Smith's intention to sell her interest in the company.
"The NFL is aware of Smith's desire to sell her interest in the parent company. The Titans have also made the league office aware that Strunk and the rest of the Adams family have no plans to sell."
Strunk released the following statement:
Recently Susie [Smith] began the process of selling her portion of KSA Industries, which includes a fractional indirect interest in the Tennessee Titans. We respect her right to make this decision and will cooperate fully with the process, which will not impact team operations in any way.
Regardless of the outcome of this process, I will continue to serve as the controlling owner of the Titans. The remaining two-thirds of the team controlled by myself, Kenneth Adams IV, Barclay Adams and Susan Lewis is not and has never been for sale.
Both personally and as a group, we have invested time, effort and capital to improve this franchise and we are excited to see the results on and off the field for years to come.