NFL owners unanimously approved Tom Brady as a minority stakeholder in the Las Vegas Raiders on Tuesday.
Brady is cleared to purchase the 5 percent stake in the franchise he discussed with principal owner Mark Davis in 2023.
Brady’s bid was on the agenda at the NFL fall league meeting in Atlanta, where he needed only 24 of the league’s 32 owners to vote to approve his acquisition. The NFL vote was officially 32-0 on Tuesday when Brady’s former teammate, Richard Seymour, also was approved for purchase of a 0.5 percent stake in the franchise.
“I’m deeply grateful — humbled and honored — to become an NFL owner. This is the mission of a lifetime, and I accept it with both purpose and pride. With great opportunity comes great responsibility. And I pledge to be a worthy steward of our game — and all it makes possible,” Seymour said via social media.
Brady and Knighthead Capital Management co-founder Tom Wagner in May 2023 agreed to purchase approximately 10 percent of the Raiders from Davis, with Brady personally holding 5 percent. He’s also part of the ownership group of the WNBA’s Las Vegas Aces with Davis.
Multiple issues stood in the way, and the topic was discussed behind closed doors at previous league meetings. Owners feared Davis had given too big a discount to Brady and Wagner, who altered their offer.
Brady is in the first year of a 10-year, $375 million contract to be an analyst on Fox’s No. 1 broadcast team. Some owners were concerned that a part-owner of one franchise would gain access and insight to coaches, staff, players and game plans of other teams.
In response, the NFL limited Brady’s access relative to what is afforded other analysts. He’s not allowed in some production meetings, and can’t visit team headquarters or attend practices.
Brady’s job as a broadcaster might be impacted on-air should he be approved.
According to ESPN, Brady is not allowed to publicly criticize game officials and other clubs. Doing so at a level deemed excessive could result would result in a fine or suspension. He would also be subjected to anti-tampering policies.
–Field Level Media
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