NFL team owners approve Tom Brady's purchase of minority stake in Las Vegas Raiders
Tom Brady, Minority Owner of Birmingham City, looks on prior to the Sky Bet League One match between Birmingham City FC and Wrexham AFC at St Andrew’s at Knighthead Park on September 16, 2024 in Birmingham, England. (Photo by Alex Pantling/Getty Imag
Former NFL quarterback and seven-time Super Bowl champion Tom Brady is now a minority stakeholder for the Las Vegas Raiders.
NFL team owners approved Brady’s bid on Tuesday. Brady owns approximately 5% control of the Raiders after receiving 24 of the 32 votes needed.
The 47-year-old Brady can't come of out retirement and play football again unless he sells his stake in the team.
The deal
The deal was initially agreed upon in May 2023, but it took owners 17 months to give their approval over concerns Brady was receiving too much of a discount from Raiders majority owner Mark Davis. Brady’s new job as a broadcaster with Fox also was an issue because it could represent a conflict of interest.
The NFL placed restrictions on Brady before the season to limit his access. He is not permitted to attend production meetings in person or virtually and may not have access to team facilities or players and coaching personnel. Brady may broadcast Raiders games. He also has to abide by the league constitution and bylaws that prohibit public criticism of officials and other clubs.
Pro Football Hall of Famer Richard Seymour, who played with Brady in New England, also received approval Tuesday to purchase a minority stake in the Raiders.
Brady and Seymour are the third and fourth former NFL players to become owners after George Halas Sr. and Jerry Richardson.