Tom Brady’s long road to a minority stake in the Las Vegas Raiders finally has a finish line.
The NFL Finance Committee has reviewed Brady’s offer and plans to bring it to other franchise owners for a vote at Tuesday’s fall owners’ meetings in Atlanta, according to ESPN’s Adam Schefter. Brady will need the votes of at least 24 of the league’s 32 club owners.
ESPN is portraying the vote as a formality, because the committee would not put Brady’s entry up for a vote if it was not sure it would be approved. If/when Brady is approved, he will be the new owner of about 10 percent of the Raiders in a group that also includes financier Tom Wagner.
Brady originally completed the deal with Raiders majority owner Mark Davis in May 2023but encountered obstacles due to he fears he received a significant discount for participation in a team that Forbes values at $6.7 billionwith some estimating that the former quarterback received a discount of up to 70%.
He eventually overcame this obstacle by increasing the price.and now he’s about to join the most lucrative sports league in the world. The Raiders stake is part of Brady’s growing portfolio, which also includes stakes in the WNBA’s Las Vegas Aces, English League One soccer club Birmingham City, racing team Hertz Team JOTA and a franchise in the Major League Pickleball.
Brady did over $300 million in contract money During his playing career he received well over millions in sponsorship money and just started its $375 million deal to show NFL games for Fox Sports. That job at Fox could see some friction now that it’s bought a franchise, as other teams might understandably not want to share information about their operations with another team’s minority owner.
Such a situation is not unprecedented, as MLB teams have done. does something similar with broadcasters who also work as advisors for other teams.
