Tom Brady may soon add the title of limited partner to his NFL resume as his bid to own a piece of the Las Vegas Raiders has gotten a huge boost.
While Brady has consistently pushed for a return to the field, he has been busy trying to get his hands on a piece of the Raiders franchise since his retirement from the NFL.
On Sunday, NFL.com’s Ian Rapoport reported that Brady’s offer for 10 percent of the team is close to being approved.
Sources say Brady’s appointment as a limited partner could be approved by league owners as early as October, Rapoport said. There’s also a possibility it could be settled during the labor seminar and Special League meeting in December.
Either way, Brady’s approval will be final by the end of the 2024 NFL season.
Tom Brady’s bid to own part of the Las Vegas Raiders could be approved before the end of the year
Brady has been pursuing a co-ownership of the team since retiring from the NFL in 2023
The closing ends a lengthy back-and-forth for Brady, who initially expected his purchase to close in May 2023. But over the past year and a half, the bid has been stalled by the NFL’s finance committee amid questions about the valuation of the percentage sold to Brady.
The price Brady would pay was increased in February to reflect potential market value, and in March the situation was “moving forward,” NFL Commissioner Roger Goodell said.
“We go through a very thorough process on all initial transfers,” Goodell said in March at the annual league meeting, “so we just go through that process.”
Rapoport added that sources with direct knowledge of the situation said many issues, such as the rating and Brady’s new role at FOX Sports as NFL announcer, have been addressed and better resolved.
Brady’s co-ownership, once approved, will limit his access while he continues in his role at FOX
All parties involved are reportedly pleased with the approved valuation of the former Patriots star’s stake. His bid will go from the Finance Committee to the overall ownership vote, where a three-quarters vote is needed to be approved.
While his ownership is on its way to materializing, Brady’s access for his FOX Sports duties will be limited due to his affiliation with the Raiders. His restricted areas include other teams’ facilities, practices and production meetings.
Brady is also not allowed to criticize officials. However, the line between criticism and analysis is open to interpretation.
The seven-time Super Bowl champion will make his FOX Sports debut on Sunday as a reporter for the Cowboys-Browns game at 4:25 p.m. Eastern Time.
Raiders owner Mark Davis told NFL.com, “I have no comment at this time,” before expressing his excitement for Las Vegas’ season opener on Sunday in Los Angeles against the Chargers.