Allen Wranglers Bought Out Terrell Owens’ Ownership in the Team for $50 & Took Back Jeep

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A lot of people wondered how T.O. could be released from a team that he partly owned.

Now we know and it is pretty unbelievable.

Terrell Owens got the crappiest severance package ever when his indoor football league team fired him this week — an eviction notice, plus a piddly $50 buyout for his 50% stake in the team … TMZ has learned.

Sources close to T.O. tell TMZ the Allen Wranglers notified their star player, in writing, he had 48 hours to get out of the house they provided him — and to hand over the keys to the 2012 Jeep Cherokee they gave him to tool around the Texas town.

But the biggest diss of all — the $50 check the Wranglers wrote T.O. to repurchase his hefty share of the team’s ownership! The financial screwing is most likely tied to the team’s belief that T.O. breached his contract by missing a charity event and sitting out 2 away games.

Why would T.O. sign a contract that had a $50 buyout for his ownership stake? Unless it was just PR and he really didn’t own anything of value on the franchise.

His lawyers are considering a breach of contract lawsuit, but at this time nothing has been filed.

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