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Tom Brady is no longer playing in the NFL, but he is still trying to be involved in the league, just in a new way. Tom Brady and Las Vegas Raiders owner Mark Davis agreed for the seven-time Super Bowl champion to become a minority owner of the team in May. Nearly a year later, and the deal has yet to go through.
In order for Brady to become a minority owner, the NFL needs to approve the sale, with three-fourths majority vote from team owners. At the NFL Annual League Meetings, league commissioner Roger Goodell gave an update on the deal.
“I wouldn’t say it’s a delay,” Goodell said. “We go through a very thorough process on all initial transfers, so we’re just going through that process. We’ve been in touch with their side and the Raiders. I think it’s making progress.”
In October, there were reports that the approval was delayed for reasons that included Davis offering a discounted price to Brady, something that concerned the financial committee. The price was then increased in February to line up with the team’s market value, per NFL Media.
The group Brady is in is projected to buy roughly 10% of the Raiders, and Brady is expected to have about 7% of that investment. The Raiders are valued by Sportico at $5.8 billion.
When Brady and Davis first agreed on the deal, Davis said they were “excited” to have the future Hall of Famer involved.
Brady is already a part owner of the Las Vegas Aces, the city’s WNBA team, which Davis also owns.
Source link : https://www.cbssports.com/nfl/news/roger-goodell-says-tom-bradys-part-ownership-of-raiders-hasnt-been-approved-but-is-making-progress/
Author : Shanna McCarriston
Publish date : 2024-03-26 18:04:54
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