NFL Owners Approve Tom Brady’s Minority Stake in Raiders \ Newslooks \ Washington DC \ Mary Sidiqi \ Evening Edition \ NFL team owners have officially approved Tom Brady’s purchase of a minority stake in the Las Vegas Raiders. The deal, initially reached in May 2023, faced delays over concerns regarding the terms of Brady’s investment and his role with Fox as a broadcaster. With the green light from owners at the annual fall meetings, Brady now holds approximately 5% ownership of the team.
Brady’s Raiders Ownership Deal Gets NFL Approval: Quick Looks
- Deal details: Brady now owns around 5% of the Las Vegas Raiders.
- Delayed approval: Concerns over a potential discount and conflict with Brady’s broadcasting job initially slowed the process.
- League voting: Brady’s stake was approved during the NFL’s annual fall meetings, needing 24 of 32 owner votes.
Deep Look
Tom Brady, the seven-time Super Bowl champion, has officially become a minority owner of the Las Vegas Raiders. On Tuesday, NFL team owners voted to approve his purchase of approximately 5% of the franchise, marking another chapter in Brady’s post-playing career. The move had been in the works since May 2023 but faced scrutiny and required significant deliberation before it finally received the green light during the league’s annual fall meetings.
Why the Delay in Approval?
The deal was not without complications. NFL rules required approval from at least 24 of the 32 team owners, and this process was held up for several months due to two main issues. First, there were concerns that Brady was receiving a discounted purchase price from Raiders majority owner Mark Davis, potentially violating league norms. Brady’s friendship with Davis, who also owns the WNBA’s Las Vegas Aces, was seen as a factor that could have influenced the terms of the deal.
Secondly, Brady’s recent venture into broadcasting with Fox Sports, where he signed a lucrative contract to be a lead analyst, raised potential conflict-of-interest concerns. The NFL had to ensure that Brady’s dual roles as a part-owner of an NFL team and a broadcaster would not present issues, particularly in games where he might cover matchups involving the Raiders.
Brady’s New Role with the Raiders
With the approval now secured, Brady will join the ranks of other former athletes who have transitioned into team ownership. This latest venture sees him taking on approximately 5% control of the Raiders, a team that has undergone significant changes in recent years, including relocating from Oakland to Las Vegas. The minority stake allows Brady to have a voice in the strategic direction of the franchise, though the day-to-day operations will still be managed by the team’s existing leadership.
During the negotiations, Brady’s association with Davis’s Las Vegas Aces also drew attention, as he had acquired a stake in the WNBA team earlier in the year. The former quarterback has been expanding his business portfolio following his retirement from playing, looking to build a presence beyond the gridiron.
Tom Brady’s Business Ventures Continue to Grow
This latest step represents Brady’s growing interest in diversifying his career. Since announcing his retirement in 2022, he has invested in multiple business ventures, including fitness and wellness companies, a media production company, and his widely publicized multi-year contract with Fox Sports. His broadcasting deal, which will see him transition to the booth in 2024, is reportedly worth $375 million over ten years, underscoring his value off the field.
However, that same broadcasting deal raised concerns among NFL team owners about potential conflicts of interest. As a commentator for Fox, Brady would cover NFL games, and there were worries over how his stake in the Raiders could affect the network’s coverage, particularly if he needed to provide analysis on games involving his own team.
League Approval Amidst Concerns
Despite these complications, the league’s owners ultimately decided to move forward with approving the transaction. Brady’s purchase of a minority stake underscores the Raiders’ appeal, especially after their move to Las Vegas, a city with booming tourism and a rapidly growing sports culture. The league determined that the terms of the deal were consistent with its regulations, and sufficient safeguards were established to prevent any conflict related to Brady’s future role with Fox.
A source familiar with the situation mentioned that Brady’s minority stake is considered a long-term investment, indicating his interest in playing a more prominent role in the franchise’s development as the team looks to solidify its presence in Las Vegas. Brady’s involvement could also be seen as a marketing advantage, given his immense popularity and enduring legacy in the sport.
Broader Implications for the NFL
The approval of Brady’s stake in the Raiders reflects a trend of high-profile athletes turning to ownership as a natural next step after their playing careers. It’s a move seen across various sports, as stars look to leverage their fame and understanding of the game to influence teams from a new perspective. NBA greats like Michael Jordan and LeBron James have followed similar paths, with James having partial ownership in sports clubs through his investments.
For the Raiders, having an icon like Tom Brady on board may bolster the team’s brand and marketability, especially in a competitive market like Las Vegas. The Raiders’ majority owner, Mark Davis, is optimistic that Brady’s influence will have positive ramifications for the franchise’s future. “Having Tom as part of the Raiders organization will be a huge boost,” Davis said after the vote. “He’s a winner, and he brings a mentality of excellence. We’re excited to have him on board.”
Brady has yet to outline specific plans for his involvement with the team, but industry insiders believe his presence will bring new marketing opportunities and perhaps even insights into player development. Whether he will take an active role in the team’s football operations remains to be seen, but his strategic mind, honed over two decades of playing in the NFL, is expected to provide value.
The Road Ahead for Brady and the Raiders
Tom Brady’s acquisition of a minority stake in the Las Vegas Raiders marks another major milestone in his post-playing career, positioning him among a select group of athletes who have made the leap to team ownership. For the Raiders, having Brady on board could open new doors, particularly in terms of branding and expanding their fan base.
While the journey to approval was longer than anticipated, the conclusion of this deal allows Brady to further cement his legacy, not just as a football player but also as an influential figure in the business world. With the Raiders continuing to adjust to their Las Vegas home, Brady’s involvement could be the boost the team needs to enhance its profile in one of the country’s most dynamic sports markets.
