Tom Brady has taken on a new role in the NFL as an owner. The seven-time Super Bowl champion has bought a minority stake in the Las Vegas Raiders, and this deal was unanimously approved by NFL team owners during their annual fall meeting on Tuesday.
In a detailed statement on X, Brady expressed he was “incredibly humbled and excited” about the approval.
He said, “I’m eager to contribute to the organization in any way I can, honoring the Raiders’ rich tradition while finding every possible opportunity to improve our offering to fans… and most importantly, WIN football games.” He also thanked Raiders majority owner Mark Davis, NFL Commissioner Roger Goodell, and others involved.
Davis commented, “It’s an exciting day for the Raider organization. Although Tom can’t play, I think he can help us select a quarterback in the future and potentially train him as well.”
Brady, who had a 23-season career with the Patriots and Buccaneers, now holds a 5% stake in the Raiders. He needed to get approval from 24 out of 32 owners to finalize the deal. If he wants to play football again, he will have to sell his share in the team.
Goodell said, “It’s great that Tom Brady wants to invest in the NFL. He cares deeply about this game. He believes in its future, and I think that’s just a signal of that.”
The agreement for this deal was reached in May 2023, but it took 17 months for the owners to approve it due to concerns about Brady getting a discount from Davis. There were also worries about his new job as a broadcaster with Fox, which could be seen as a conflict of interest.
Chiefs owner Clark Hunt explained, “There were a lot of things from a structural and due diligence standpoint that had to happen, which is why it took so long for it to be approved and we finally got all that put to bed.”
The NFL has set limits on Tom Brady’s involvement with the Raiders before the season starts. He cannot attend production meetings, whether in person or online, and he does not have access to team facilities, players, or coaching staff.
However, he is allowed to broadcast Raiders games. He also must follow the league rules that prevent public criticism of officials and other teams.
In addition, Brady holds a minority stake in the WNBA’s Las Vegas Aces, which are owned by Mark Davis.
Former NFL player Richard Seymour, who played alongside Brady in New England, also received approval on Tuesday to buy a minority stake in the Raiders.
He shared on X, “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.”
Brady and Seymour are now the fifth and sixth former NFL players to become team owners, following George Halas Sr., Jerry Richardson, Warrick Dunn, and John Stallworth.
Davis joked that he didn’t have much liking for Brady when he was playing against him, but he tried hard to sign him as a free agent in 2020 before Brady chose to go to Tampa Bay.
“We’re really proud to have him as part of the organization,” Davis said. “He’s a competitor, he’s a bright young man. There’s just so many pluses for both sides. It’s great.”
The Raiders have not won a Super Bowl since they captured their third title in eight years after the 1983 season. They won their first two championships in Oakland and the last one in Los Angeles. The team moved to Las Vegas in 2020 and has not won a playoff game since losing the Super Bowl to Tampa Bay on January 26, 2003.
