- Brady first agreed to purchase a minority stake in the Raiders in May 2023
- But the price and the legendary QB’s deal to work for FOX Sports caused a delay
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Tom Brady is poised to finally become part owner of the Las Vegas Raiders, nearly a year after owner Mark Davis agreed to sell a minority stake in the team to the legendary quarterback.
Brady, widely considered the greatest quarterback of all time, agreed to buy a minority stake in the Raiders last May – a few months after bringing down the curtain on his NFL career.
However, the deal has since been postponed due to concerns from other NFL teams about both the price – which was considered below market value at $175 million for a 10 percent stake – and his upcoming move to on-air broadcasting at FOX Sports. .
Reports last year claimed that “not everyone in the league is comfortable with a minority team owner also calling plays.”
Tom Brady is about to finally become part owner of the Las Vegas Raiders
Brady, who ended his storied NFL career in February 2023, first agreed to buy a minority stake in the Raiders a few months after his retirement
Yet according to NFL NetworkBrady is on the verge of finally sealing his co-ownership deal in Las Vegas after crossing the threshold to clear the league’s final hurdles.
It is believed that his ongoing investment in the Raiders has now been changed to reflect the team’s correct valuation, which is estimated at around $6 billion.
The NFL’s finance committee will consider Brady’s investment at a meeting in New York on March 4 or 5. Final approval is then expected to take place during an NFL Annual League Meeting in Orlando from March 24-27.
A league spokesperson said the matter is “still pending before the finance committee.”
Brady’s investment group, which also includes Tom Wagner, co-founder of Knighthead Capital, will acquire the 10 percent stake in the Raiders, while the former New England Patriots and Tampa Bay Buccaneers themselves will acquire seven percent.
Brady and Wagner also co-own numerous other sports franchises, including English soccer club Birmingham City, a Major League Pickleball team and a world championship auto racing team.
The seven-time Super Bowl winner will still become a broadcaster at FOX for the 2024 season, which will end his 18-month hiatus from the NFL.
“I have a big temporary assignment that starts in September,” he said recently.
“I’m already working hard to make sure I’m ready for that opportunity.”