Tom Brady will have to ditch BetMGM deal when his purchase of piece of Raiders is approved

Tom Brady is currently having it both ways. That won’t last much longer.

Last year, Brady struck a deal to become a minority owner of the Raiders. The NFL has not yet approved the transaction, due in large part to concerns about the sweetheart deal Brady was getting.

In the interim, Brady is able to do things he can’t do if/when the transaction is approved.

For example, he can gamble and promote gambling. As he is doing for BetMGM. Per the NFL, the moment Brady’s acquisition of a portion of the Raiders is approved, he’ll have to cut ties with BetMGM.

“NFL personnel are prohibited from engaging in, using or permitting the use of one’s name or images in connection with activities or materials that depict, advertise, market or promote any form of gambling, including sports betting,” the league said in an email to PFT.

Of course, Brady will be allowed to own up to five percent of BetMGM or any other company that operates a sports book once he officially becomes an owner of the Raiders. Every owner can do that. And the league won’t disclose the equity interests that NFL owners have in sports book companies.

Source link : https://sports.yahoo.com/tom-brady-ditch-betmgm-deal-190130801.html

Author : ProFootball Talk on NBC Sports

Publish date : 2024-02-20 19:01:30

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