Tom Brady Expected to be Approved as Minority Owner of Las Vegas Raiders

Tom Brady, the seven-time Super Bowl-winning quarterback, is on the verge of becoming a minority owner of the Las Vegas Raiders. According to sources, the NFL‘s finance committee has reviewed and unanimously approved Brady’s bid, which will now be presented to the other owners for a vote at the NFL fall owners’ meeting in Atlanta on Tuesday.

To secure the stake, Brady needs approval from at least 24 of the league’s 32 owners. However, sources indicate that the voting process is expected to be a formality, as the finance committee would not have advanced Brady’s bid if they were not confident in its approval.

Brady’s agreement to purchase approximately 10% of the Raiders was initially reached in May 2023 with majority owner Mark Davis. However, the deal had to be refined and adjusted after the league’s financial committee raised concerns about the initial offer being too discounted. Brady, along with businessman Tom Wagner, will finalize the transaction once the owners approve it.

This move will make Brady just the third player in NFL history to become an owner, joining George Halas and Jerry Richardson. Brady’s new role as a minority owner could potentially create some tension with his broadcasting responsibilities, as he is set to begin a 10-year, $375 million contract as an analyst for Fox Sports in the 2024 season.

Brady’s investment in the Raiders is part of his expanding portfolio, which also includes stakes in the WNBA’s Las Vegas Aces, an English League One soccer team, and a franchise in Major League Pickleball. His transition from a legendary player to a high-profile owner aligns him with other sports greats such as Michael Jordan, Magic Johnson, and Dwayne Wade, who have also ventured into team ownership).