• Loading stock data...
Tuesday, November 5, 2024
The Best Employers in Sports survey is open through Nov. 6 Learn More

Tom Brady Unanimously Approved as Raiders Minority Owner

  • The NFL icon’s long-awaited deal to buy part of the Raiders is now set for an ownership vote.
  • Votes are also possible on the Jaguars’ stadium renovation deal and another Super Bowl in Atlanta.
Kevin Jairaj-Imagn Images

Editor’s note: This story was published on Oct. 14, the day before NFL owners reportedly voted unanimously to approve Tom Brady as a minority owner in the Raiders.

The NFL’s GOAT is at last poised to enter the ranks of team ownership.

Former quarterback Tom Brady, widely considered to be the league’s greatest-ever player, will finally have his long-delayed bid to become a Raiders part-owner brought before other NFL team owners for approval, according to industry sources and multiple reports. Brady’s proposal to become a roughly 10% Raiders equity holder, along with business partner Tom Wagner, has cleared the league’s finance committee and is set to be brought before the full ownership during the NFL’s fall business meeting Tuesday in Atlanta.

Approval will require 24 of 32 team owners, and that vote is now expected to be a formality after the finance committee unanimously cleared the transaction. 

The 47-year-old Brady, who has grown close with Raiders majority owner Mark Davis, has been actively working on this deal for nearly two years, but it has run into several obstacles, including concerns within the league that he was receiving a hefty discount on the value of the team equity. Brady and Wagner have since increased their offer to an undisclosed figure. Las Vegas is currently estimated to be worth $6.7 billion, the seventh highest in the league.

Davis will remain the Raiders’ majority owner, but Brady is expected to have a significant role in Las Vegas’s football operations—not surprising given his unrivaled status as a seven-time Super Bowl winner.

Brady also owns a minority share of the Davis-led Las Vegas Aces in the WNBA. 

Fox Restrictions

Brady—also beginning a 10-year, $375 million broadcasting talent deal with Fox Sports that has included plenty of scrutiny on his booth performance—is already subject to several restrictions due to that pending dual owner/analyst role. 

In anticipation of this deal potentially being completed, the NFL has created several rules for Brady. Among them is a prohibition on performing common television analyst functions such as attending broadcast production meetings with coaches and players, and watching practices.

Even with those rules, the Brady deal still presents the seeming conflict of owning part of one team while also covering all of them. 

Other Meeting Matters

Several other issues are expected to be discussed at the owners meeting, including an update on television viewership for the league up by 1% so far this year, and is set for another boost with an expansion of the Monday Night Football simulcast schedule. Among the other pressing developments set for Tuesday:

  • Owners will likely take a vote on a $1.4 billion renovation agreement for EverBank Stadium in Jacksonville, home of the Jaguars. The public-private deal, calling for $775 million in taxpayer funds, will provide a dramatic upgrade to the 29-year-old facility. 
  • The NFL is set to award Super Bowl LXII in 2028 to Mercedes-Benz Stadium in Atlanta, according to a development initially reported by Sports Business Journal. That game is the next available Super Bowl still without a host as the next three games will be held in New Orleans; Santa Clara, Calif.; and Inglewood, Calif., respectively. 

Mercedes-Benz Stadium last hosted the Super Bowl in 2019, a 13–3 victory for the Patriots over the Rams, and the venue remains one of the most technologically advanced sports facilities in the world. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

New Era, New Chaos? New CFP Team Rankings Explained

The new College Football Playoff system’s complexities might confuse some college football fans.

Super Bowl Ads Sell Out Three Months Early, at Record Price

Ad units are believed to be selling at more than $7 million per 30 seconds.
Oct 4, 2024; Durham, NC, USA; Duke Blue Devils guard Cooper Flagg (2) is introduced to the fans during Countdown to Craziness at Cameron Indoor Stadium.

All Eyes on Cooper Flagg As College Basketball Tips Off

He makes his NCAA debut with Duke on Monday.
Donald Trump

ESPN Will Drop First 12-Team CFP Rankings in Heart of Election Night

The network traditionally hasn’t shied away from going up against election coverage.
podcast thumbnail mobile
Front Office Sports Today

Surprising Start to MLB’s Offseason

0:00

Featured Today

Vanderbilt Commodores fans head to the south end zone as the goal post is taken down by exuberant fans after beating No. 1 Alabama 40-35 at Vanderbilt Stadium in Nashville, Tenn., Saturday, Oct. 5, 2024.
opinion

Something New in College Football This Year: Parity

Upsets, surprises. CFB is more fun on the field than the NFL.
Sep 28, 2024; Tuscaloosa, Alabama, USA; GOP Presidential candidate Donald Trump waves flanked by former Georgia Bulldogs player Herschel Walker, recording art Kid Rock, professional golfer John Daily, Alabama senators Tommy Tuberville (R) and Katie Britt (R) during the second half of the game between the Alabama Crimson Tide and the Georgia Bulldogs at Bryant-Denny Stadium.
November 1, 2024

Mission Swing State: College Football’s Political Advertising Battle

Trump, Harris, and the PACs that support them are utilizing the sport.
October 31, 2024

The Untapped Revenue ‘Powder Keg’ of Women’s NFL Fandom

There’s a “boatload” of money at stake for brands and the league.
Donald Trump holding a basketball in the White House
October 30, 2024

Mavericks Owner’s $100 Million Trump Donation Dwarfs All Other Sports Owner Political Giving

Dr. Miriam Adelson is one of the most powerful donors in U.S. politics.
Oct 30, 2024; New York, New York, USA; New York Yankees pitcher Gerrit Cole (45) reacts after a play during the fifth inning against the Los Angeles Dodgers in game five of the 2024 MLB World Series at Yankee Stadium.

Gerrit Cole Reverses Opt Out, Stays With Yankees. What’s Next?

Discussions will now start on a potential contract extension to finish his career in New York.
November 3, 2024

Juan Soto Sweepstakes Underway: Superstar’s Deal Could Reshape MLB

The MLB superstar is set to gain the second-largest contract in U.S. pro sports history.
November 4, 2024

Saints Fire Dennis Allen: NFL’s Coaching Carousel Spins Early

The now-former Saints coach was in the third season of a four-year contract.
Sponsored

World Series Delivers High-Demand Marquee Matchup

The hype around the World Series matchup drove ticket prices to record levels—but the Dodgers’ dominance quickly quieted the fervor.
October 31, 2024

Everyone Wants In on the WNBA Expansion Gold Rush

There are 10 to 12 cities interested in a WNBA expansion team.
Oct 18, 2024; Minneapolis, Minnesota, USA; Minnesota Lynx forward Napheesa Collier (24) works around New York Liberty forward Breanna Stewart (30) during the first half of game four of the 2024 WNBA Finals at Target Center.
October 31, 2024

Unrivaled Expands While Keeping Seat Warm for Caitlin Clark

The women’s basketball league is adding six roster spots to bring the total to 36.
Oct 31, 2024; New York, New York, USA; Los Angeles Dodgers president and CEO Stan Kasten celebrates with the Commissioner’s Trophy after the Los Angeles Dodgers beat the New York Yankees in game four to win the 2024 MLB World Series at Yankee Stadium.
October 31, 2024

Dodgers Winning Formula Blends Underdog Spirit With Big Dollars

Team officials point to an “opportunistic” mindset as it overcame numerous injuries and setbacks.
Philadelphia Eagles quarterback Jalen Hurts (1) reacts to scoring a touchdown with Philadelphia Eagles running back Saquon Barkley (26) in the fourth quarter of the NFL game against the Cincinnati Bengals at Paycor Stadium in Cincinnati on Sunday, Oct. 27, 2024.
October 31, 2024

Here’s Every NFL Team Linked to Private Equity Investments

The NFL gave the O.K. in August for PE firms to buy up to 10% of a franchise.