Tom Brady, the celebrated seven-time Super Bowl champion, has recently taken a significant step into NFL ownership by acquiring a minority stake in the Las Vegas Raiders. This development was officially approved by NFL owners on October 15, signaling a strong endorsement of the league’s robust status. Brady, expressing his excitement, shared his thoughts on the platform X, highlighting his appreciation for the teamwork and excellence he experienced throughout his NFL career.
In a significant decision, the NFL owners sanctioned the sale of a 10% stake in the Raiders to a group that includes Brady, a celebrated seven-time Super Bowl winner. Brady himself will own a 5% share. He needed at least 24 out of 32 owner votes for approval. The 47-year-old former quarterback is prohibited from returning to play unless he divests his ownership stake.
The agreement to buy the stake was originally made in May 2023, but it took 17 months for the owners to approve due to concerns that Brady was getting a considerable discount from Mark Davis, the majority owner of the Raiders. Additionally, Brady’s new role as a broadcaster with Fox was scrutinized for potential conflicts of interest.
The Raiders are currently valued at approximately $6.7 billion according to Forbes, putting the 10% share at about $670 million. Brady, whose net worth is reported to be $512 million, involved businessman Tom Wagner to help finance the purchase, resulting in Brady securing a 5% non-controlling interest.
Brady recently started as an NFL commentator for Fox, having signed a massive 10-year, $375 million deal to serve as an in-game analyst. He started this new chapter during the first week of the NFL season by commentating on the Dallas Cowboys’ game against the Cleveland Browns. Beyond his athletic prowess, Brady has shown a keen interest in the business side of sports since retiring after the 2022 season.
In a similar vein, Pro Football Hall of Famer Richard Seymour, who was a teammate of Brady’s in New England, also received approval to buy into the Raiders. This makes Brady and Seymour part of a select group of former NFL players, including George Halas Sr., Jerry Richardson, Warrick Dunn, and John Stallworth, who have stepped into ownership roles.
The Las Vegas Raiders, who relocated from Oakland to Las Vegas in 2020, are a franchise with a storied history but have faced challenges in achieving recent success. They haven’t clinched a Super Bowl since their win following the 1983 season, which was their third title in eight years. Their last playoff appearance ended in a loss in the Super Bowl to Tampa Bay on January 26, 2003. With new ownership influences like Brady, the team hopes to revive its former glory and achieve new successes in the competitive landscape of the NFL.
This move by Brady is viewed as a significant indicator of the NFL’s health and attractiveness as a business venture, and it aligns with his post-retirement pursuits that blend his passions for the sport and business innovation. The future of the Raiders, with Brady’s involvement, will be closely watched by fans and analysts alike as they anticipate the impact of his leadership off the field.