Tom Brady officially a part owner of the Raiders after NFL owners approve it

Fox Sports commentator and former NFL quarterback Tom Brady is officially a part owner of the Las Vegas Raiders. (Photo by Kevin Sabitus/Getty Images)

Tom Brady has been on the minds of Las Vegas Raiders fans for more than two decades, ever since the “Tuck Rule” game.

Now, Brady is a part owner of the team.

The long and arduous process to make Brady part of NFL ownership concluded when his stake in the Raiders was officially approved by NFL owners at the league’s fall meetings. Brady was approved on Tuesday by a unanimous vote, according to multiple reports.

Brady’s group, which includes Knighthead Capital co-founder Tom Wagner, agreed to buy about a 10 percent stake in the Raiders in May of 2023. It was held up initially because the NFL’s finance committee said Brady was being sold his share at a price that was much lower than the actual valuation of the franchise. The purchase price was adjusted in February, clearing the way for the sale to go through.

The sale still needed to be approved by three-fourths of the NFL owners, which happened at the fall meetings.

The complication to Brady being an owner is his work with Fox as a broadcaster, which started this season. He reportedly isn’t allowed to sit in on production meetings or attend practices in preparation for his broadcasts.

Brady is one of the key figures in the history of the NFL. He won a record seven Super Bowl rings with the New England Patriots and Tampa Bay Buccaneers and set numerous passing records during his 23-year career. Now he’s back in the league in an official capacity.

Source link : https://ca.sports.yahoo.com/news/tom-brady-officially-a-part-owner-of-the-raiders-after-nfl-owners-approve-it-201813931.html

Author : Yahoo Sports

Publish date : 2024-10-15 20:18:13

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