It was first reported back in May that Tom Brady had agreed to buy a stake in the Las Vegas Raiders. The approval of that transaction was delayed for multiple reasons, but according to Ian Rapoport and Tom Pelissero of NFL.com, it is now set to be approved.
Other league owners reportedly took issue with 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% discount.
It sounds as if the purchase price was increased to placate Davis’ fellow owners. Per Rapoport and Pelissero, Brady’s investment was “recently altered,” and it now reflects “the proper valuation of the team.”
The duo added that all other hurdles have been cleared. The league’s finance committee will meet in early March to discuss the purchase, and final approval should come during the annual league meetings in Orlando from March 24-27.
Another concern that arose during this process stemmed from Brady’s broadcasting contract with Fox, a 10-year, $375M deal that will begin in 2024 and that will 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 to and obtaining the inside information that broadcasters often enjoy.
Rapoport and Pelissero note that Brady’s Fox plans remain unchanged without suggesting that his access will be any different than any of his media peers.
The Raiders are valued at $5.8 billion, and Brady’s ownership group is purchasing a 10% interest (Brady himself is putting up roughly seven percent).
While the legendary QB has said he intends to play a “passive role,” Rapoport and Pelissero confirm that he has operated as an unofficial advisor to Davis — he assisted in the team’s recent head-coaching search and the hiring of OC Luke Getsy — so his definition of “passive” may be a broad one.
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