Raiders’ ownership share is increased by Patriots icon Tom Brady.
Tom Brady’s role as an NFL minority owner has taken on a new dimension during his 23-year absence from the game (20 of those years spent with the New England Patriots).
Tom Brady, the former quarterback for the New England Patriots, is living a life that keeps getting bigger off the field.
Just a few weeks after it was announced that Brady would be FOX’s top commentator, the 47-year-old is now ready to step up in his ownership ambitions with the Raiders.
According to many people acquainted with the situation, Tom Brady’s planned investment in the Las Vegas Raiders—which has been on hold for more than eight months—was recently adjusted to raise the team’s valuation, according to Sportico.
Tom Wagner, a co-founder of Knighthead Capital, and Brady’s investment group are aiming to purchase somewhat more than ten percent of the Raiders’ stock.
There is no deadline for deciding whether to accept Brady’s promotion to minority owner, and the change needs ownership approval.
According to Sportico, one insider indicated that in recent months, the figure on Brady’s pact was upped to equal the Raiders’ valuation in an unrelated transaction from earlier in 2023.
League employees, attorneys, and financial consultants are still conducting due diligence on the Brady Group’s contract.
Spurred by their previous friendship, Brady and Raiders owner Mark Davis came to an agreement in May 2023 for the seven-time Super Bowl winner to become a minority owner.
Brady also owns a small share of the Las Vegas Aces, a WNBA team owned by Davis. For Brady to formally become the owner of the Raiders, he needs the support of three-fourths of NFL owners.
Brady is excited, even if he doesn’t expect to be heavily involved after his anticipated admission.
The Associated Press was informed by Brady that I’d be playing a fairly passive role. I hope to continue doing this for the rest of my life.
With my work at Fox, I have a lot of responsibility, which I take very seriously. However, when I consider my life to date, being able to participate in the NFL is a dream come true.
When Brady was playing, he had a 5-1 record against the Raiders. He is currently working to introduce the same winning strategies to Las Vegas; however, it will cost him more to be able to do so.
