Adams Heirs to Remain Titans Owners
The Tennessee Titans’ ownership structure is about to get streamlined.
Susie Adams Smith, one of the heirs to franchise founder K.S. “Bud” Adams, has agreed to sell her share of KSA Industries, which includes one-third of the NFL franchise, to KSA Industries in a move that will create a clear primary owner of the Titans, according to an Associated Press report.
The transaction means Adams Strunk, who was designated controlling owner in 2015, will own 50 percent of the Titans. Under her direction, current coach Mike Vrabel and general manager Jon Robinson were hired, the team’s uniforms were redesigned and significant – and ongoing – upgrades have been made to the training facility, among other things.
The other 50 percent will be divided equally between Kenneth Adams IV, Barclay Adams and Susan Lewis, children of the late Kenneth S. Adams III, the second of Bud Adams’ three children.
“The Titans franchise has meant so much to me and my family over the 61 years of its existence,” Adams Strunk said in a statement to The AP. “With this transaction, we are pleased to ensure that the legacy started by my father will continue in our family. We are thrilled to make this commitment and will continue to invest in our team’s future growth and success.
“Our belief in what lies ahead for this team is unwavering and we are eager to see it unfold.”
Bud Adams, who founded the franchise as the Houston Oilers in 1960, died in October 2013, and for years the resultant ownership structure was a source of concern for NFL officials and some other owners. Adams Strunk, Adams Smith each owned one-third of the team. The other third was divided into 11 percent stakes for each of Kenneth Adams’ children.
Adams Smith announced in 2017 her intent to sell her stake in KSA Industries.
According to The AP, that sale will be completed by the end of the year. NFL owners are expected approve terms of the deal, as it relates to the team, at league meetings next week.
