A person familiar with this matter has said that the National Football League is expected to approve Tom Brady’s status as a minority owner of the Las Vegas Raiders by Tuesday.
Tom Wagner, the founder of Knighthead Capital and a seven-time Super Bowl champion, is his business partner. They are looking to purchase a 10% stake each in the Raiders.
At the NFL meeting in Atlanta, 24 owners of the 32 NFL teams must approve the deal. Brady and Wagner will not be attending the league meeting in Atlanta.
Brady’s stake would cost an unknown amount. The Raiders, valued at $7.8 billion, are the fifth most valuable NFL franchise. The team’s value was among the lowest of all 32 NFL teams before the move.
The revenue of the Raiders has grown significantly since they moved to Las Vegas and their new stadium. In 2023, revenue for the Raiders was $780 million. This is the third-highest in the league.
Allegiant Stadium, with its 65,000 seats is one of the smaller stadiums in the NFL. However, the Raiders compensated for this by charging the highest ticket prices in the league. The average ticket price for last season was $169. Allegiant Stadium hosts many non-NFL events all year long, which generates additional revenue for this franchise.
Brady’s bid to buy a share of the team started in May 2023 but was delayed because some owners thought the initial offer was too low.
Brady retired from the NFL in 2012 and signed a broadcasting contract with Fox Sports for 10 years, worth $375 million. The restrictions will apply if he’s approved to own the team.
Brady, for example, would be allowed to broadcast Raiders’ games but not attend online or in-person production meetings. Brady may also not be allowed to access team facilities, coaches, and players.
Brady is also subject to league rules prohibiting public criticism of officials or other clubs.
Las Vegas is no stranger to the five-time Super Bowl winner. Mark Davis, who owns the Raiders and the Women’s National Basketball Association’s Las Vegas Aces is also a minor owner of this team.
Brady is only the third ex-NFL player to own a sports team.
