Tom Brady is inching closer to realizing his ambition of becoming a limited owner of the Las Vegas Raiders, with reports from NFL Network suggesting that the final obstacles have been overcome.
According to NFL Network’s Ian Rapoport and Tom Pelissero, Brady’s investment is anticipated to undergo review by the league’s finance committee in New York on March 4 or 5. The conclusive approval is anticipated to occur during the NFL Annual League Meeting scheduled for March 24-27.
The primary cause of the delay centered around Brady and his investment group, including Tom Wagner, co-founder of Knighthead Capital. They were required to augment their financial commitment to align with the accurate valuation of the Raiders.
A recent report by Sportico indicated that certain owners expressed reservations, believing that Brady’s proposed investment did not align with the current valuation of the Raiders, necessitating an increase in the figure.
Tom Brady’s interest in the Raiders was first reported in May of the previous year. Sportico estimates the value of the Las Vegas franchise at $5.8 billion, and Brady’s group is expected to secure a 10 percent stake, with Brady individually holding seven percent.
Throughout this process, Brady has been actively involved in advising majority owner Mark Davis on various team matters, including the head coaching search and the recruitment of staff under new head coach Antonio Pierce.
Beyond his potential ownership of the Raiders, Brady has engaged in investment ventures with Wagner, collaborating on deals involving Birmingham City, an English soccer club, an auto-racing team, and a Major League Pickleball franchise.
Should Brady’s ownership bid receive approval, it would mark the formal conclusion of his playing career and signify the commencement of his retirement from the league, as players are prohibited from holding an equity stake in franchises.
