• Wed. Feb 28th, 2024

News Eyeo

All Important News

Tom Brady has reportedly met all final requirements to become a part-owner of the Raiders

ByEditor

Feb 11, 2024

Tom Brady is steadily moving closer to realizing his dream of becoming a limited owner of the Las Vegas Raiders. The NFL Network reported that he has overcome the final hurdles that were standing in his way. It is expected that his investment will be reviewed in early March when the league’s finance committee meets, with final approval anticipated at the NFL Annual League Meeting later that month.

The delay in Brady’s ownership bid revolved around the valuation of the Raiders. Brady and his group, including Tom Wagner of Knighthead Capital, needed to increase their financial commitment to align with the team’s proper valuation. This required adjusting the proposed investment amount due to concerns from some team owners.

Reports suggest that Brady intends to purchase a 10 percent stake in the Raiders, with his individual ownership estimated at seven percent. Despite the ongoing ownership negotiations, Brady has been advising the team’s majority owner, Mark Davis, on various matters, such as the head coaching search and the staffing under the new head coach, Antonio Pierce.

If Brady’s ownership is approved, it will mark the official end of his playing career, as NFL rules prohibit players from holding an equity stake in franchises. This potential ownership opportunity adds to Brady and Wagner’s existing portfolio of investments, which includes English soccer club Birmingham City, an auto-racing team, and a Major League Pickleball franchise.

By Editor

Leave a Reply