On Tuesday, NFL owners unanimously approved Tom Brady as a minority stakeholder in the Las Vegas Raiders. Brady has now been cleared to purchase a 5 percent stake in the franchise, a deal he discussed with principal owner Mark Davis in 2023.
Brady’s bid was a key agenda item at the NFL fall league meeting in Atlanta, where he needed approval from at least 24 of the league’s 32 owners. However, the final vote was a resounding 32-0 in favor of Brady’s acquisition. His former teammate, Richard Seymour, was also approved to purchase a 0.5 percent stake in the team.
“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 shared on social media.
Earlier in May 2023, Brady and Knighthead Capital Management co-founder Tom Wagner reached an agreement to acquire roughly 10 percent of the Raiders from Davis, with Brady personally owning 5 percent. Brady is also part of the ownership group for the WNBA’s Las Vegas Aces, alongside Davis.
The deal faced multiple challenges along the way, including concerns raised at earlier league meetings. Some NFL owners believed Davis had given Brady and Wagner too steep a discount, leading to revisions of their offer. Additionally, Brady’s role as a broadcaster for Fox raised questions. Brady is currently in the first year of a 10-year, $375 million contract as an analyst for Fox’s top broadcast team, and there were concerns about the potential for a part-owner to gain access to inside information from other teams.
To address these concerns, the NFL limited Brady’s access compared to other analysts. He is restricted from attending certain production meetings, visiting team headquarters, and observing practices.
Moreover, Brady’s on-air commentary could face scrutiny. According to ESPN, he is prohibited from publicly criticizing game officials or other clubs, with excessive comments potentially leading to fines or suspensions. He will also be subject to anti-tampering policies.
Source: Field Level Media