Ten months ago, it was first reported that former NFL great Tom Brady had agreed to buy a stake in the Raiders. After delays resulting from issues over the terms of the sale, it was reported a little over a month ago that those issues had been resolved and that the sale had been cleared for approval, pending a vote at the annual league meetings in Orlando from March 24-27. Now, disputing that latter report, Mark Maske of The Washington Post tells us that the league is no longer expected to vote on the sale next week.
The newest report didn’t really add any new detail, so suffice it to say that an issue concerning a conflict of interest with Brady’s broadcasting contract with FOX is the likely cause of the holdup. Brady agreed to a 10-year, $375M deal that will begin in 2024 and position Brady as the network’s No. 1 color commentator alongside top play-by-play man Kevin Burkhardt.
Of course, teams do not want anyone with an ownership stake in a rival outfit having access and obtaining the inside information that broadcasters often enjoy, but no plans have been made to suggest that his access will be any different than that of his media peers. With no solution imminent, one may assume that this potential conflict of interest remains a key sticking point.
Another aspect of the deal that other league owners reportedly took issue with was the bargain price at which Raiders owner Mark Davis was trying to sell a share of his club to Brady. Although minority pieces of a sports franchise are frequently sold for discounted rates — due to limited partners’ minimal contributions to franchise operations — it was rumored that Davis may have been offering Brady, one of his most-respected confidants, a 70 percent discount.
It sounded in February as if the purchase price was increased to placate Davis’ fellow owners. The Raiders are valued at $6.2 billion, according to Forbes, and Brady’s ownership group is purchasing a 10 percent interest, with Brady reportedly putting up roughly seven percent himself. The report from February also indicated that all other hurdles to the sale had been cleared and that an approved vote was expected at the upcoming meeting. Instead, Brady remains in wait as the impending vote delays the sale once again.
“In wait” is a generous term, to be fair, though. Despite claiming that he intends to have a “passive role” in the franchise, Brady has been pretty active without even having a stake in the team. As a confirmed unofficial advisor to Davis, Brady reportedly assisted in the Raiders’ recent head coaching search and advised in the hiring of new offensive coordinator Luke Getsy. If this is what an uninvested Brady looks like, it will be interesting to see what his “passive role” will be in minority ownership.
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