- Brady first agreed to purchase a minority stake in the Raiders back in May 2023
- But the legendary QB’s price and deal to work for FOX Sports caused a hold-up
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Brady, widely considered the greatest quarterback of all time, agreed to purchase a minority stake in the Raiders back in May of last year – a few months after bringing the curtain down on his NFL career.
However, since then the deal has been held up over concerns from other NFL teams regarding both the price – which was deemed to be below market value at $175million for a 10 percent stake – and his upcoming transition into on-air broadcasting with FOX Sports.
Reports last year claimed ‘not everyone in the league is comfortable with a minority team owner also calling games’.
Tom Brady is on the verge of finally becoming a part-owner of the Las Vegas Raiders
Brady, who ended his legendary NFL career in February 2023, first agreed to purchase a minority stake in the Raiders a few months after retiring
Yet according to NFL Network, Brady is set to finally seal his part-ownership agreement in Las Vegas after reaching the threshold to clear the league’s final hurdles.
It is believed his pending investment in the Raiders has now been altered to reflect the correct valuation of the team, which is estimated to be around $6bn.
The NFL’s Finance Committee will consider Brady’s investment when they meet in New York on either March 4 or 5, with final approval then expected to come at an NFL Annual League Meeting in Orlando from March 24-27.
A league spokesperson is quoted as saying the matter ‘remains under review by the finance committee.’
Brady’s investment group, which also includes Knighthead Capital co-founder Tom Wagner, is set to purchase the 10 percent stake in the Raiders, with the former New England Patriots and Tampa Bay Buccaneers taking seven percent himself.
Brady and Wagner also co-own a host of other sporting franchises, including English soccer club Birmingham City, a Major League Pickleball outfit and a world-championship level auto-racing team.
The seven-time Super Bowl winner is still set to become a broadcaster with FOX in the 2024 season, which will bring an end to his 18-month hiatus from the NFL.
‘I’ve got a big broadcasting job that’s going to start in September,’ he said recently.
‘I’m already working hard on trying to make sure I’m ready for that opportunity.’