Tom Brady is finally in line for his investment to be a part owner of the Las Vegas Raiders to be approved by the league.
Brady came to an agreement with team majority owner Mark Davis back in May, but there was a delay in the NFL approving the sale with other owners concerned Davis was offering Brady a discounted price to join his ownership group. However, Brady’s contribution to the group was adjusted to be in line with the Raiders’ market value, paving the way for him to officially become an a part owner, per NFL Media.
Brady’s financial commitment is set to be reviewed by the league’s finance committee in March, when the group is next set to meet. Final approval of Brady coming on board with the Raiders could happen at some point in Orlando during the NFL Annual League Meeting from March 24-27.
On Thursday, Sportico reported Brady’s investment increased after a few NFL owners perceived the seven-time Super Bowl champion’s initial bid to be less than market value. The group Brady is a part of is projected to buy roughly 10% of the Raiders with the retired quarterback to have around 7% of that investment. Sportico values the Raiders at around $5.8 billion. This deal would be Brady’s second with Davis in Las Vegas as he is also a part owner of the Las Vegas WNBA team, the Aces.
This deal going through will officially signal that there will not be a return to the football field for Brady. Non-family NFL team employees, which includes players, are not allowed to have financial stakes in the league’s teams.
Pick Six Newsletter
Crafted By The Best NFL Experts
Get the day’s big stories + fun stuff you love like mock drafts, picks and power rankings.
Brady also plans to continue to be around the game by assuming the role of Fox Sports’ lead NFL analyst, fulfilling the 10-7ear, $375 million contract he signed back in 2022. This move will see supplant retired tight end Greg Olsen as play-by-play announcer Kevin Burkhardt’s broadcasting partner.
“I’ve got a big broadcasting job that’s going to start in September,” Brady said recently on his “Let’s Go” podcast on SirusXM. “I’m already working hard on trying to make sure I’m ready for that opportunity.”
Go to Source
Author: Garrett Podell
February 11, 2024 | 11:20 am