ATLANTA (AP) — Tom Brady is stepping into a new role in the NFL: team owner. The legendary seven-time Super Bowl champion has secured a minority stake in the Las Vegas Raiders, a deal that received unanimous approval from NFL team owners during the league’s annual fall meeting on Tuesday.
Mark Davis, the majority owner of the Raiders, expressed enthusiasm about Brady’s involvement, stating, “It’s an exciting day for the Raider organization. While Tom may no longer be on the field, I believe he can significantly contribute by helping us select and potentially train a future quarterback.”
Brady, who enjoyed a remarkable 23-season career with the New England Patriots and the Tampa Bay Buccaneers, now owns 5% of the Raiders. He needed to secure 24 out of 32 votes from team owners for the acquisition to go through. Importantly, Brady, now 47, will have to sell his stake in the team if he wishes to return to playing after his retirement.
NFL Commissioner Roger Goodell welcomed Brady’s investment, saying, “It’s great that Tom Brady wants to invest in the NFL. He has a genuine passion for the game and a strong belief in its future, which is a positive indicator for everyone involved.”
The agreement was initially reached in May 2023, but the approval process took 17 months due to concerns regarding the pricing of the deal and potential conflicts of interest related to Brady’s broadcasting role with Fox.
Chiefs owner Clark Hunt explained, “There were many structural and due diligence aspects that needed addressing, which is why the approval took so long. We finally managed to sort everything out.”
To limit his access to NFL teams, the league has established rules for Brady this season. He is prohibited from attending production meetings, whether in-person or virtually, and cannot access team facilities, players, or coaching staff. However, he is allowed to broadcast Raiders games. Brady must also adhere to league rules that restrict public criticism of officials and rival teams.
In addition to his new role with the Raiders, Brady has a minority stake in the WNBA’s Las Vegas Aces, a team owned by Davis.
On the same day, former NFL player Richard Seymour, who played alongside Brady in New England, also received approval to purchase a minority stake in the Raiders, marking another win for ex-players in ownership roles.
With this acquisition, Brady and Seymour join an elite group of former players who have become team owners, alongside George Halas Sr. and Jerry Richardson. Davis humorously admitted that despite not being fond of Brady during their competitive years, he vigorously pursued signing the quarterback as a free agent in 2020 before Brady chose Tampa Bay.
“We’re thrilled to have him as part of the organization,” Davis stated. “He’s a fierce competitor and a sharp individual. This partnership will yield positive outcomes for both parties. It’s a fantastic opportunity.”
Despite their strong history, the Raiders have not clinched a Super Bowl title since their third championship following the 1983 season. They celebrated their first two titles in Oakland and their last in Los Angeles. Since moving to Las Vegas in 2020, the Raiders have not achieved a playoff victory, with their most recent Super Bowl loss occurring on January 26, 2003, against the Tampa Bay Buccaneers.
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AP Sports Writer Mark Anderson contributed to this report from Las Vegas.
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