Tom Brady’s pursuit of a minority stake in the Las Vegas Raiders faces further hurdles, with indications suggesting that his bid won’t see approval during this month’s NFL team owners’ meeting.
Mark Maske of the Washington Post reports that NFL team owners are unlikely to greenlight Brady’s bid to become a part owner of the Raiders at the upcoming annual league meeting.
Brady, along with Tom Wagner, co-founder of Knighthead Capital Management, is vying for a 10 percent stake in the Raiders. However, Maske outlines two key concerns among NFL owners regarding the bid.
Firstly, principal owner Mark Davis purportedly extended Brady a discounted price beyond the standard, raising eyebrows within the league’s finance committee.
Nonetheless, Tom Pelissero of NFL Network revealed in February that adjustments were made to Brady’s investment deal to reflect the team’s proper valuation. Consequently, Brady is said to have met the requirements to navigate the NFL’s regulatory hurdles and formally join the ownership ranks.
Addressing initial concerns about the bid’s pricing, Michael McCann noted that Brady increased the value of his offer, potentially averting an antitrust case. Nevertheless, Maske reports lingering uncertainty regarding the finance committee’s satisfaction with Brady and Wagner’s efforts to allay concerns over the deal.
According to NFL spokesman Brian McCarthy, the finance committee is still reviewing the matter.
The second major issue revolves around the potential conflict of interest arising from Brady’s impending role as a television analyst for Fox’s NFL broadcasts. Maske notes that some owners may hesitate to grant Brady access to their training facilities or practice fields if he becomes a part owner of the Raiders, fearing he could gain insider information.
This concern is legitimate, considering the competitive nature of the NFL, where access to sensitive information is closely guarded. Despite already offering unofficial advisory support to the team, notably in the coaching search, Brady’s potential ownership stake raises more significant conflict-of-interest challenges, even if his role wouldn’t involve direct decision-making.
It appears that owners are inclined to postpone the decision, signaling potential setbacks for Brady’s ownership aspirations. Approval requires backing from 24 of the league’s 32 owners, a threshold yet to be met pending an actual vote.
