Reportedly, Tom Brady, the former quarterback for the New England Patriots, has agreed to purchase a minority ownership in the Las Vegas Raiders.
Albert Breer of SI.com reports that the deal has been presented to the NFL and is awaiting league clearance.
ESPN’s Adam Schefter and Seth Wickersham said that Tom Brady and Raiders owner Mark Davis were nearing an agreement in which Brady would take on a “passive” role with the team. Therefore, Brady is not expected to play a significant role in running the business.
This does, however, allow him to become a part-owner of an NFL team.
The sale of a minority share of the @Raiders to ex-Patriots and Bucs QB @TomBrady has been agreed to and submitted to the NFL for approval. Won’t be done at the spring meeting but ball is rolling on it.— Albert Breer (@AlbertBreer) May 22, 2023
(Brady is already in business w/Vegas owner Mark Davis, with the WNBA Aces.)
Considering Brady’s stake in the WNBA’s Las Vegas Aces, which is controlled by Davis, there’s no reason to doubt that a deal would fall through.
This means the most successful quarterback in NFL history will be partnering with a powerful NFL owner in yet another lucrative commercial venture.
Brady has said that he wants to stay involved in the NFL after his playing career is over, and this is a way for him to do that. He has also said that he is a fan of the Raiders and that he is excited to be a part of the team.
Brady will not have any day-to-day involvement in the team’s operations, but he will be involved in strategic planning and decision-making. He will also be a part of the team’s marketing and promotional efforts.
It is too early to say for sure how Brady’s ownership stake in the Raiders will affect the team. However, his presence in the ownership group could help the team attract top free agents and make it even more competitive.
Brady’s purchase of a minority holding in the Raiders is a major development for the team and the NFL. It is a sign of Brady’s continued commitment to the NFL, and it could help to raise the profile of the Raiders. It is also a sign that the NFL is willing to approve minority ownership stakes for former players, which could open the door for other former players to become owners.