Pearson is the team’s GM. He said the deal is for salary and part-ownership of the team.
“It won’t be T.O. anymore. It will be Terrell Owens," Pearson said on Galloway and Company. "We’re very close. Jon Frankel, our owner, has been working on this for quite some time now. When he started, he felt there was maybe about a zero percent chance he could get it done, but through his persistent efforts and really wanting to make this happen, he has been able to make contact with their people. Now it’s in a stage where he thinks it’s at the point where it’s about 70 percent done and close to being finalized, so we’ll see how it shakes out from this point.
"But T.O. is interested. It’s a deal that includes salary and ownership, and I think that’s why he’s attracted to it – the ownership aspect more than anything. We all could use the money. But the ownership aspect – what is T.O. going to do with his life after football, which is almost here and a reality to him. So he’s probably thinking about that. He sees that as an opportunity."