Changes to Titans' ownership structure looming

Former Tennessee Titans CEO Tommy Smith made an abrupt decision to retire partly because of looming changes to the team's ownership structure, according to Jim Wyatt of The Tennessean.

Smith announced his retirement last week after 17 months on the job, citing the demands of the position and health concerns.

However, there may be more at play, Wyatt suggests. Smith's spouse Susie Adams Smith, the daughter of deceased former Titans owner Bud Adams, owns 33 percent of the team and was granted controlling ownership of the franchise after her father's death. The NFL accepted the arrangement provided the team's other minority owners (Amy Adams Strunk, Bud Adams' other daughter, and the family of Adams' deceased son Kenneth Adams III) gave their consent.

According to Wyatt, there's no longer a consensus among the family that Susie should be controlling owner and Tommy the CEO.

It's unclear what lies ahead for the Titans. In the immediate future, the team is expected to hire a Nashville-based CEO to run day-to-day operations. 

Rumors suggesting the Titans could be sold within the next year have been circulating for months. The recent upheaval certainly won't quiet those who believe the team is available for the right price.