NFL News NFL News, Reports and Updates
Tom Brady is pulling ever closer to finally becoming a limited owner of the Las Vegas Raiders, and according to NFL Network, he’s reportedly cleared the final hurdles standing in his way.
By March 4 or 5, NFL Networks’ Ian Rapoport and Tom Pelissero reported that Brady’s investment is expected to be reviewed when the league’s finance committee meets in New York City. The NFL Annual League Meeting, taking place from March 24-27, is when final approval would happen, if everything clears.
At the center of the delay: Brady and his group — which Knighthead Capital co-founder Tom Wagner is a part of — needed to increase their financial commitment to reflect the proper valuation of the Raiders.
Former NFL quarterback Tom Brady has reportedly had his pathway cleared to finally become a limited owner of the Las Vegas Raiders. (AP Photo/Eric Risberg)
On Thursday, Sportico reported that due to some owners feeling as though Brady’s proposed investment didn’t match the current value of the Raiders, the number needed to be bumped up.
The seven-time Super Bowl champion’s initial interest in the Raiders was reported last May. Sportico has Las Vegas’ value estimated at $5.8 billion, and Brady’s group is expected to buy 10 percent, with Brady individually owning seven percent.
In the meantime, Brady has advised majority owner Mark Davis on transactions such as the team’s head coaching search and the filling out of the staff under new head coach Antonio Pierce.
This is far from Brady and Wagner’s lone investment adventure, as they also teamed up on deals for Birmingham City, an English soccer club, an auto-racing team and a Major League Pickleball franchise.
Should Brady finally gain approval for his ownership, that will officially close the door on his career and begin his retirement from the league as a player, as they aren’t allowed to have an equity stake in teams.
Source link : https://sports.yahoo.com/tom-brady-has-reportedly-cleared-final-parameters-to-become-limited-owner-of-raiders-202341594.html
Author : Yahoo Sports
Publish date : 2024-02-11 20:23:41
Copyright for syndicated content belongs to the linked Source.
