Tim McMahon of ESPN Dallas has some additional information on Terrell Owens possibly joining the Allen Wranglers of the Indoor Football League. Drew Pearson dropped the bomb in a radio interview with KESN that he expects his club to reach an agreement with Owens and that Owens would receive partial ownership of the team.

McMahon tweeted that the offer could involve as much as 50% ownership of the club and mid-six figures in compensation. Wranglers owner Jon Frankel has been chasing Owens for months and has seen his odds of landing the receiver improve as Owens has failed to garner interest from the NFL.

For his part, Pearson is convinced that Owens can still play.

There’s no question he can play. I think right now he’s probably better than over half the receivers in the NFL. You see as the season is shaking out all the injuries at the wide receiver position and they’re signing guys off practice squads … but no one took a chance on Terrell Owens. A lot of it has to do with his past history, his attitude.