Titans being sold?

[ttitansfan4life]

Seems like it means absolutely nothing but still interesting. For the first time, a part(small part) of the team will be owned by someone other than the Adams family. 

[Farsendor1]

I hope somehow Amy buys her shares that would be totally awesome. 

[ragevsuall17]

It's not a small part...  it's a third... the exact same amount that Amy owns.  

That's why the sale rumors never ceased... Tommy's probably been leaking all these reports that they were selling.  (He's not a formal owner, but he's husband to the woman who's selling... and probably annoyed as hell that he was ousted).  

Amy should buy it... and would give her controlling share of the team (66%)... but none of us know what her exact financial situation is like... and probably like most of us, she doesn't have a billion or so laying around.  The bad news is an outside party buying all the shares for sale... which would give that partner the same ownership % as Amy... or even worse, if they convince one of the other owners to sell their share (the remaining 1/3 is split between 3 people). That would leave this outside party with 4/9's ownership of the team... 1/9 more than Amy's 3/9's.  

This is the reason the NFL hasn't been happy with the ownership situation.  An outside party can throw a monkey wrench into this thing.   If Amy had ownership of 50.1% of the team, then the NFL backs off.  So Amy doesn't need to buy the full 1/3... but she needs to buy a little more than half of it... or 17.1% of that 33%

[TitanLegend]

Amy doesn't have that kind of cash.

What will be interesting is if someone with enough cash comes along and buys the entirety of the 33% from Susie. If they do, the compliance issue with the NFL still exists. If multiple people buy it, Amy becomes the majority owner and the compliance issue goes away. If Susie is willing to sell just a few % to several people, Amy could potentially just buy a small portion to ensure she is majority owner, but not sure what their relationship is like.

If someone with enough money comes along and buys Susie's 33% and potentially some of the other grand childrens smaller %s, that would be interesting too.

[TitanLegend]

Amy's statement on the matter:

 

[VY]

3 hours ago, ragevsuall17 said:

It's not a small part...  it's a third... the exact same amount that Amy owns.  

That's why the sale rumors never ceased... Tommy's probably been leaking all these reports that they were selling.  (He's not a formal owner, but he's husband to the woman who's selling... and probably annoyed as hell that he was ousted).  

Amy should buy it... and would give her controlling share of the team (66%)... but none of us know what her exact financial situation is like... and probably like most of us, she doesn't have a billion or so laying around.  The bad news is an outside party buying all the shares for sale... which would give that partner the same ownership % as Amy... or even worse, if they convince one of the other owners to sell their share (the remaining 1/3 is split between 3 people). That would leave this outside party with 4/9's ownership of the team... 1/9 more than Amy's 3/9's.  

This is the reason the NFL hasn't been happy with the ownership situation.  An outside party can throw a monkey wrench into this thing.   If Amy had ownership of 50.1% of the team, then the NFL backs off.  So Amy doesn't need to buy the full 1/3... but she needs to buy a little more than half of it... or 17.1% of that 33%

Unless Amy Strunk was able to divest in other ventures (which all seem to be tied up in the parent company) she's probably not very liquid. The more pressing concern seems to be the relationship between Susie Adams Smith and the rest of the family, in that she apparently isn't getting along there. If AS was able to at least buy a nominal amount (1%) that would settle everything for now making her the majority share holder. 

Say the team is worth $2B, and AS wants to buy 1% more of the team from SAS which would run her about $20M  (without any additional upmark from SAS just for a family feud tax). No idea how much cash she has on hand, but you'd think she'd be able to take a loan out at the very least to get that minor percentage. That's still an insanely large outlay. The risk is high there given she could see other family members look to sell too. I guess we can think of this as one last gift left to the fanbase from Crazy Uncle  Bud.

Assuming only SAS's shares are for sale, nothing would change as the ownership charter designates AS as the "controlling owner". So unless Bon Jovi / whoever comes in and either A.) also buys up shares from the other 3 owners or B.) convinces those other owners he/she should be the controlling owner, things should stay stable.

[ragevsuall17]

Here's the thing. Even if she's the sole owner with more stock than any other individual (or partnership group), she is not considered a majority or controlling member until she owns 51% of the shares.

That's the issue the NFL has. She cannot fully control a takeover. What if Tommy is so pissed that he's willing to sell to anyone for less? What if they somehow convince Ken IV to be put a group together which can buy 51% of the shares? There's obviously family disfunction... Who's tho know how far it really goes...

There's a lot more than meets the eye here... And its obvious the NFL has known about this (and much more) for a while, and why they've kept their stance.

[KingTitan]

This title is a little misleading.  
The Titans aren't for sale. It's a piece of the  KSA industries.  

https://www.bloomberg.com/news/articles/2017-08-08/tennessee-titans-owner-is-said-to-be-selling-one-third-of-team

Quote

. Any buyer would also be investing in those businesses, which include walnut farms, water rights in California, Texas real estate, a Houston-area auto dealership and Adams Resources & Energy Inc.

Now a third of the Titans is included in the sale. However, I think news is running with "Titans are for sale."  It's not totally accurate.  And if I read correctly online, the sale doesn't all have to go to one person. Which would solidify Amy Adams Strunk even more as controlling owner.  I don't know about anyone else. I want Amy to remain in control. Everything that has happened, from the facility to firing Whiz, and hiring Robinson can be traced back to Amy.  
She needs to be in control. She has done nothing but make help make us relevant. 

[KingTitan]

9 minutes ago, ragevsuall17 said:

Here's the thing. Even if she's the sole owner with more stock than any other individual (or partnership group), she is not considered a majority or controlling member until she owns 51% of the shares.

That's the issue the NFL has. She cannot fully control a takeover. What if Tommy is so pissed that he's willing to sell to anyone for less? What if they somehow convince Ken IV to be put a group together which can buy 51% of the shares? There's obviously family disfunction... Who's tho know how far it really goes...

There's a lot more than meets the eye here... And its obvious the NFL has known about this (and much more) for a while, and why they've kept their stance.

So explain how something like Buccaneers. They have multiple owners.

Sick of all this now. It's like people won't be satisfied until the family no longer owns it.  I don't care as long as Amy continues to make decisions. She has earned my trust. 

[titans0021]

3 hours ago, KingTitan said:

Sick of all this now. It's like people won't be satisfied until the family no longer owns it.  I don't care as long as Amy continues to make decisions.

This is where I'm at. Though I understand the concerns. I think the vast, vast majority of the fanbase is really happy with the work AAS has done, there's just concern that there's clearly saw problems within the family and we don't want them to branch out into the day to day operations of the team. I still remember the days of Tommy's incompetence.

[TitanLegend]

You guys are missing the point. The NFL's concern is legitimate. They're fine with AAS owning the team(as a matter of fact, I bet the NFL wished it would stay that way, another prominent female figure in the NFL is only good for their rep), but the problem is she doesn't actually own the team. She only owns 33%. And only remains controlling owner in the event that her family doesn't go and start selling their portions of the team and giving someone else a higher % of the team. Goodell and other owners have repeatedly said they're fine/happy with how Amy runs the team, but not happy with how much she owns.

It is not out of the realm of possibility that some billionaire comes along, buys Susie's share, then also attempts to buy shares from one of the grandchildren. The NFL keeps going up and up in value, and any shot for someone to get in on owning a team is a shot people with a lot of money are likely to take.

What Susie Adams is doing is exactly what the NFL was afraid would happen. Our ownership structure is not good. Until/unless Amy owns at least 50.1% of the team, there are going to be concerns.

Amy is controlling owner, but don't forget not long ago Tommy Smith was controlling owner too. That can switch extremely quickly. Amy is only controlling owner as long as the other share holders are okay with it.

[ragevsuall17]

9 hours ago, TitanLegend said:

You guys are missing the point. The NFL's concern is legitimate. They're fine with AAS owning the team(as a matter of fact, I bet the NFL wished it would stay that way, another prominent female figure in the NFL is only good for their rep), but the problem is she doesn't actually own the team. She only owns 33%. And only remains controlling owner in the event that her family doesn't go and start selling their portions of the team and giving someone else a higher % of the team. Goodell and other owners have repeatedly said they're fine/happy with how Amy runs the team, but not happy with how much she owns.

It is not out of the realm of possibility that some billionaire comes along, buys Susie's share, then also attempts to buy shares from one of the grandchildren. The NFL keeps going up and up in value, and any shot for someone to get in on owning a team is a shot people with a lot of money are likely to take.

What Susie Adams is doing is exactly what the NFL was afraid would happen. Our ownership structure is not good. Until/unless Amy owns at least 50.1% of the team, there are going to be concerns.

Amy is controlling owner, but don't forget not long ago Tommy Smith was controlling owner too. That can switch extremely quickly. Amy is only controlling owner as long as the other share holders are okay with it.

 

Exactly.  

This has nothing to do with my opinion of the current ownership... I actually like what AAS has done in her brief time here.  But there is a reason why the NFL has never fully accepted the ownership agreement.  Some posters have downplayed the significance, but it's remained... and now we see why.  As successful as Bud was in his career... far more successful than I'll ever be, that's for sure... he's had his share of questionable decisions.  His estate planning seems to veer that way.  

I can't speak with 100% certainty about the Glazer's structure... or the estate planning that went into that... but Tom's wife is still alive... and that usually means she keeps the majority shares (tax purposes, of course).  If this is the case, it doesn't matter who Ms. Glazer "controlling owner"... she's at not risk of being overtaken as majority owner.  When she passes, it may become an issue, although I'm sure the family is seeing the trouble the NFL is giving the Titans, and will have something worked out in advance.