Tom Brady is expected to be approved as a minority owner of the Las Vegas Raiders at Tuesday’s NFL owners meeting in Atlanta, league sources told ESPN on Saturday.
The NFL’s finance committee has reviewed Brady’s offer and plans to present it to other owners for a vote, with 24 of the league’s 32 owners having to approve it.
But as a source told ESPN, the committee will not present Brady’s offer to the owners for a vote if it is not approved, which now appears to be a formality.
The Finance Committee unanimously approved Brady as a minority owner, and no one remembers the last time the owners voted against the Finance Committee’s unanimous recommendation, sources told ESPN.
So Brady is days away from buying nearly 10% of the Raiders, along with businessman Tom Wagner, from owner Mark Davis. It’s a deal that was agreed in May 2023 but had to be finalized and amended after the league’s finance committee deemed the initial offer too discounted.
“We’re excited to have Tom on the Raiders,” Davis told ESPN’s Paul Gutierrez at the time of the initial deal. “It’s exciting because he will be the third player in NFL history to become an owner.”
George Halas and Jerry Richardson are the others.
Before what turned out to be Brady’s final NFL season in 2022, the seven-time Super Bowl-winning quarterback agreed to a 10-year, $375 million contract to join Fox as an analyst once his career as a player. He retired in 2023 and agreed to start at Fox for the 2024 season.
Brady, 47, is expected to become one of the most notable former athletes to own part of a team, joining such all-time greats as Michael Jordan, who became part-owner of the Bobcats/Hornets franchise; Magic Johnson, who was part of an investment group that bought a stake in the Dodgers and Commanders; Dwyane Wade, who took an ownership stake in Jazz in 2021; Alex Rodriguez, who became part-owner of the Timberwolves in 2021; Mario Lemieux, owner of the Penguins since 1999; Patrick Mahomes, who became part-owner of the Royals in 2020; Warrick Dunn, a limited partner with the Falcons; John Stallworth with the Steelers. And Lewis Hamilton with the Broncos.
