Tom Brady’s purchase of a minority stake of around five per cent in the Las Vegas Raiders has been approved by NFL team owners.
The seven-time Super Bowl champion, who played 23 seasons with the Patriots and Buccaneers, takes approximately five per cent control of the Raiders.
Brady needed to receive 24 of 32 votes, which happen at the league’s annual meetings.
The deal was initially agreed upon in May 2023, but it took owners 17 months to give their approval over concerns Brady was receiving too much of a discount from Raiders majority owner Mark Davis. Brady’s new job as a broadcaster with Fox also was an issue because it could represent a conflict of interest.
The NFL placed restrictions on Brady before the season to limit his access. He is not permitted to attend production meetings in person or virtually and may not have access to team facilities or players and coaching personnel. Brady may broadcast Raiders games. He also has to abide by the league constitution and bylaws that prohibit public criticism of officials and other clubs.
Brady also owns a minority stake in the WNBA’s Las Vegas Aces, who are owned by Davis, while in August 2023 the 47-year-old bought a minority share in football club Birmingham Citywho are currently top of League One after relegation from the Championship last season, and is chair of their advisory board.
Pro Football Hall of Famer Richard Seymour, who played with Brady at New England, also received approval to purchase a minority stake in the Raiders.
Week Seven begins on Thursday night when the New Orleans Saints (2-4) meet the Denver Broncos (3-3), live on Sky Sports NFL from 1.15am in the early hours of Friday; Also stream with NOW.
