NFL owners set to rule on Tom Brady’s Raiders investment as one insider says the vote is a mere ‘formality’
NFL owners have reportedly reached a decision on Tom Brady’s bid to become a part-owner of the Las Vegas Raiders.
The legendary quarterback initially agreed to become a limited partner of the team back in May 2023, but the move has not yet been finalized.
However, that is expected to change at Tuesday’s fall owners meetings, according to ESPN’s Adam Schefter, with the requisite 24 of 32 owners expected to approve his purchase of approximately 10 percent of the team along with businessman Tom Wagner.
A source told ESPN that Brady’s bid would not be brought to a vote by the league’s finance committee if it were not going to be approved – a decision which was branded a ‘formality’ at this point.
Brady’s ownership bid was reportedly unanimously approved previously by the league’s finance committee.
Tom Brady’s bid to own part of the Las Vegas Raiders is set to be approved this week
He is reportedly purchasing around 10 percent of the team, which is valued at $6.7billion
The NFL did not immediately respond to Mail Sport’s request for comment.
It’s been well over a year since Brady agreed in principle to become an owner of the Raiders, but the process was held up due to reported concerns around the discounted price the quarterback was getting from Raiders owner Mark Davis.
The Washington Post was previously told that Davis had at one point offered Brady as much as a 70 percent discount.
The franchise is valued at $6.7billion by Forbes.
Another point of concern is and was Brady’s role as Fox Sports’ lead NFL analyst.
Unlike the normal access that TV broadcasters are granted, he is not allowed to attend practice, be at another team’s facility or attend production meetings.
Brady has purchased a minority stake of the Las Vegas Raiders from owner Mark Davis
Brady is also barred from criticizing officials.
He previously told the AP that his role with the Raiders would be a ‘very passive’ one.
‘This is not something that I’m into it for a year or two years. You know, I’ve got a lot of responsibility with my Fox job, which I take very seriously,’ he said.
‘But if I´m looking over the course of my life, to have the opportunity to be involved in the NFL is a dream come true. And if I could help the NFL and continue to contribute in a positive way, then you know, that´s been a very enjoyable part of my life.’
Brady is also a minority owner of the WNBA’s Las Vegas Aces.
