It has been about a year since owner Mark Davis agreed to sell the iconic quarterback a minority stake in the Las Vegas Raiders, and now Tom Brady is practically certain to become a part-owner of the team.
A few months after ending his NFL career, Brady, who is regarded as the greatest quarterback of all time, consented to buy a minority stake in the Raiders back in May of last year.Since then, though, the purchase has been delayed due to concerns raised by other NFL teams over the price ($175,500,000 for a 10% stake), which was thought to be below market value, and his impending move to FOX Sports for on-air programming.
“Not everyone in the league is comfortable with a minority team owner also calling games,” according to reports from the previous year.
However, after meeting the requirements to pass the last obstacles in the league, Brady is expected to finalize his part-ownership arrangement in Las Vegas, according to NFL Network.
It’s thought that his planned investment in the Raiders has now been changed to reflect the team’s true valuation, which is projected to be close to $6 billion.
Brady’s investment will be discussed by the NFL’s Finance Committee during their meeting in New York on March 4 or 5. The NFL Annual League Meeting in Orlando, Florida, from March 24–27, is when the committee is likely to grant final clearance.
According to a league representative, the issue “remains under review by the finance committee.”
Tom Wagner, a co-founder of Knighthead Capital, and Brady’s investment company will buy a ten percent ownership in the Raiders, with the former New England Patriots and Tampa Bay Buccaneers having a seven percent share.
Brady and Wagner are also co-owners of numerous other sports teams, such as the world-champion car racing squad, the Major League Pickleball team, and the English soccer team Birmingham City.
The eighteen-month break from the NFL will end in 2024 when the seven-time Super Bowl winner signs on as a broadcaster with FOX.
He recently declared, “I’m going to start a big broadcasting job in September.
