Tom Brady is set to become a minority owner of the Las Vegas Raiders, with approval expected at the NFL fall league meeting in Atlanta on Tuesday. According to league sources, the NFL’s finance committee has reviewed Brady’s bid and will present it to the other owners for a vote. A total of 24 out of the 32 NFL team owners must approve the deal for it to pass. However, sources have indicated that the committee wouldn’t be bringing the bid forward if it wasn’t confident in its approval, making this more of a formality.
Brady’s bid has already been unanimously approved by the finance committee, and it’s rare for owners to vote against a recommendation from the committee, suggesting the deal is all but finalized. Brady is poised to purchase roughly 10% of the Raiders, alongside businessman Tom Wagner, from current owner Mark Davis. The transaction was originally agreed upon in May 2023, but it required revisions after the league’s finance committee deemed the initial offer too discounted.
Mark Davis expressed enthusiasm when the initial deal was reached, stating, “We’re excited for Tom to join the Raiders. It’s exciting because he will be just the third player in NFL history to become an owner,” joining the ranks of George Halas and Jerry Richardson.
Brady, 47, retired from the NFL in 2023 after a legendary career that saw him win seven Super Bowl titles. He has already agreed to a 10-year, $375 million contract to become an analyst for Fox Sports, set to begin in 2024.
Brady’s move into ownership puts him in the company of other iconic athletes who have transitioned into sports team ownership. This group includes Michael Jordan, who became a part-owner of the Charlotte Hornets; Magic Johnson, who has stakes in the Dodgers and Commanders; Dwyane Wade, who owns part of the Utah Jazz; Alex Rodriguez, co-owner of the Minnesota Timberwolves; and Patrick Mahomes, who holds a stake in the Kansas City Royals. Brady’s ownership stake in the Raiders adds to his post-football legacy, cementing his place among elite athletes-turned-owners.
