Tom Brady has a new role in the NFL: owner.
The seven-time Super Bowl champion bought a minority stake in the Las Vegas Raiders, a deal approved by NFL team owners Tuesday at the league’s annual fall meeting.
Brady, who played 23 seasons with the Patriots and Buccaneers, takes 5% of control of the Raiders. He had to get 24 of the 32 votes. The 47-year-old Brady can’t retire and return to football unless he sells his stake in the team.
The deal was initially agreed to in May 2023, but it took owners 17 months to approve due to concerns that Brady was getting too big a cut from Raiders majority owner Mark Davis. Brady’s new job as a broadcaster at Fox was also an issue because it could pose a conflict of interest.
The NFL placed restrictions on Brady before the season to limit his access. He will not be permitted to attend production meetings in person or virtually and may not have access to team facilities or to players and coaching staff. Brady is allowed to broadcast Raiders games. He must also adhere to the league’s constitution and bylaws, which prohibit public criticism of officials and other clubs.
Brady also owns a minority stake in the WNBA’s Las Vegas Aces, which are owned by Davis.
Pro Football Hall of Famer Richard Seymour, who played with Brady in New England, also received approval Tuesday to purchase a minority stake in the Raiders.
Brady and Seymour are the third and fourth former NFL players to become owners, following George Halas Sr. and Jerry Richardson.
The Raiders haven’t won a Super Bowl since capturing their third title in eight years following the 1983 season. They won their first two championships in Oakland and the last in Los Angeles. They moved to Las Vegas in 2020 and have not won a playoff game since losing the Super Bowl to Tampa Bay on January 26, 2003.