Tom Brady is on the verge of finally becoming part owner of the Las Vegas Raiders, nearly a year since owner Mark Davis agreed to sell a minority stake in the team to the legendary quarterback.
Brady, widely considered the greatest quarterback of all time, agreed to buy a minority stake in the Raiders in May of last year, a few months after bringing the curtain down on his NFL career.
However, the deal has since been delayed due to concerns from other NFL teams regarding the price, which was considered below the market value of $175 million for a 10 percent stake, and his upcoming transition. to air broadcast with FOX Sports. .
Reports last year stated that “not everyone in the league is comfortable with a minority team owner also calling games.”
Tom Brady is about to finally become part owner of the Las Vegas Raiders
Brady, who ended his legendary NFL career in February 2023, first agreed to buy a minority stake in the Raiders a few months after retiring.
However, according to NFL NetworkBrady will finally seal his co-ownership deal in Las Vegas after reaching the threshold to clear the league’s latest hurdles.
His pending investment in the Raiders is now believed to have been altered to reflect the team’s correct valuation, which is estimated to be around $6 billion.
The NFL Finance Committee will consider Brady’s investment when it meets in New York on March 4 or 5, and final approval is expected to come at an annual NFL league meeting in Orlando on March 24-27. March.
A league spokesperson is quoted as saying the matter “remains under review by the finance committee.”
Brady’s investment group, which also includes Knighthead Capital co-founder Tom Wagner, will buy the 10 percent stake in the Raiders, with the former New England Patriots and Tampa Bay Buccaneers taking seven percent.
Brady and Wagner also co-own other sports franchises, including the English soccer club Birmingham City, a Major League Pickleball team, and a world championship-level auto racing team.
The seven-time Super Bowl winner is still set to become a broadcaster for FOX in the 2024 season, ending his 18-month hiatus from the NFL.
“I have a big streaming job starting in September,” he said recently.
“I’m already working hard to make sure I’m prepared for that opportunity.”