Insider reveals why owners haven't approved Tom Brady-Raiders deal

There's more information about why NFL owners haven't yet approved retired quarterback Tom Brady becoming a limited partner of the Las Vegas Raiders. 

"We’re trying to work it through," Indianapolis Colts owner Jim Irsay said about the matter during this week's owners meetings, per Ben Volin of the Boston Globe. "The number just has to be a reasonable number for purchase price from Tom, is the only thing. If reasonable value says … that 10% should be $525M, you can’t pay $175M." 

For a piece published on Oct. 5, Mark Maske and Nicki Jhabvala of the Washington Post reported that Brady’s purchase of a minority stake in the Raiders had stalled "at least in part because of concerns by the league’s finance committee about the discounted price Raiders principal owner Mark Davis" was offering the seven-time Super Bowl champion at that time. Pro Football Talk's Mike Florio noted that Brady getting 10% of the Raiders for $175M adds up to a valuation of $1.75B for a franchise that, according to Volin, is valued at closer to $6B. 

Additionally, Volin wrote that "a league source also said that Brady’s deal to become the lead NFL analyst for Fox Sports in 2024 is complicating the purchase, as not everyone in the league is comfortable with a minority team owner also broadcasting games." 

Brady and Fox agreed to a 10-year contract reportedly worth $375M in 2022, and he's spending this season preparing to join the network next year. 

ESPN's Seth Wickersham and Adam Schefter reported on May 12 that Brady's working relationship with Fox wouldn't impact his purchase of a minority stake in a franchise because "league policy about team ownership overlapping with media employment comes into play only if the owner holds a position of authority at the media company and could impact broadcast rights negotiations." 

However, Florio mentioned that some owners and executives would see any minority team owner calling games for a broadcaster as a "clear conflict of interest." 

NFL owners could next discuss Brady's potential deal with the Raiders during winter meetings scheduled for Dec. 12-13.