In February, Tom Brady, a future Hall of Famer, officially retired from the football field but has expressed his intention to maintain a connection with the NFL. He reached an agreement in May with Raiders owner Mark Davis to become a minority owner of the Las Vegas-based NFL team, a seven-time Super Bowl champion’s next venture. However, the finalization of this deal is contingent on NFL approval, requiring a three-fourths majority vote from team owners.
The Washington Post has reported a delay in the approval process, attributed to concerns raised by the NFL’s financial committee regarding the discounted price offered by Davis to Brady. The Post further suggests that adjustments may be necessary to garner the necessary support from the team owners.
Colts owner Jim Irsay offered some insight into the situation during an NFL owners meeting held on October 18, as reported by the Boston Globe. He mentioned the need for the purchase price to be reasonable and used an example to illustrate the point, stating, “If reasonable value says… that 10 percent should be $525 million, you can’t pay $175 million.” Whether these numbers represent the exact details of the deal or if they were simply used as an example remains unclear. However, the NFL’s influential finance committee has expressed its reluctance to approve the current deal in its present form.
As of now, there is no indication of whether Davis and Brady will consider modifying their initial agreement. The next opportunity to seek ratification for the deal is set for the owners’ meeting scheduled on December 12-13 in Texas.
Notably, Brady and Davis already share an ownership connection through the WNBA. The former NFL quarterback previously acquired a minority ownership stake in the Las Vegas Aces, a team owned by Mark Davis.
