Tom Brady is set to become a minority owner of the Las Vegas Raiders, with formal approval expected at the NFL fall league meeting in Atlanta. Brady’s bid has already passed through the NFL’s finance committee, which is preparing to present it to the other team owners for a vote. To finalize his ownership stake, 24 of the league’s 32 owners need to approve the deal, but sources indicate this is expected to be a formality given the finance committee’s unanimous approval.
The committee’s recommendation holds significant weight, as it is rare for owners to vote against a unanimous decision from this group. Brady is poised to acquire approximately 10% of the Raiders, joining forces with businessman Tom Wagner in a deal with the team’s principal owner, Mark Davis. Although the transaction was originally agreed upon in May 2023, adjustments were needed after the finance committee raised concerns about the initial terms, which they felt undervalued the purchase.
Raiders owner Mark Davis has expressed excitement about Brady joining the ownership group, noting that Brady will become only the third former NFL player to own a stake in a team, following in the footsteps of George Halas and Jerry Richardson. Davis sees Brady’s involvement as an important milestone for the Raiders and for the NFL as a whole. The deal highlights Brady’s post-playing career transition, further elevating his status within the sport.
Brady, who retired from the NFL in 2023 after winning seven Super Bowl titles, had previously signed a lucrative 10-year, $375 million contract to become a lead analyst for Fox Sports. He is expected to begin that role in the 2024 season, alongside his new responsibilities as a Raiders minority owner. The timing of this ownership stake marks a significant shift in his career trajectory, as he moves from being on the field to influencing the business side of the sport.
Brady’s ownership role will place him in an elite group of former athletes who have secured stakes in professional sports teams. He joins a distinguished list of sports legends like Michael Jordan, Magic Johnson, and Dwyane Wade, who have made similar moves into ownership. This group of prominent former athletes reflects a growing trend of sports stars leveraging their influence and wealth to invest in teams, further extending their legacy beyond their playing days.
