I'd assume so although there could be an issue if say a few investors all make the same offer for the same percentage of the franchise. That's something that I assume, you'd have to go before a judge much like the Veeck - Finley - Comiskey situation in 1959.
I've asked the folks in the media about this issue from time to time and honestly no one that I've asked can even guess as to what the future would hold if / when JR leaves. I've been told it's been brought up in meetings for example and nobody has an idea...if it would go to some of the current investors, if it would be sold to an outside group, company or an individual.
It'll be interesting when it happens that's for sure.