Owners approve Tom Brady’s bid to buy minority stake of Raiders

NFL team owners on Tuesday voted to approve Tom Brady’s purchase of a minority stake in the Las Vegas Raiders, a move he called “a blessing to know I’ll be involved in the greatest league in the world for the rest of my life.”

“Throughout my NFL career, I’ve learned that at its core, football is a game of teamwork, resilience, and a relentless pursuit of excellence,” Brady said in a statement posted to X. “The Raiders franchise, and the city of Las Vegas embody these same values, and I’m honored to become part of that story.”

Brady thanked Raiders owner Mark Davis for “welcoming me into his family, and the tireless work he’s done to help build on the organization that so many fans know and love today.”

“Tom is somebody that for many years I didn’t like very much,” Davis told reporters after Tuesday’s league meetings concluded, referencing the infamous Tuck Rule controversy in 2002. “He did admit that it was a fumble. So those are important aspects of the situation. We’re just really proud to have him as a partner. He’s a competitor. He’s a bright young man.

“Although Tom can’t play, I think he can help us select a quarterback in the future and potentially train as well.”

Indeed, Brady in his statement said he is “eager to contribute to the organization in any way I can, honoring the Raiders’ rich tradition while finding every possible opportunity to improve our offering to fans … and most importantly, WIN football games.”

Davis declined to provide details on Brady’s role with the Raiders, out of respect for Brady’s job as a broadcaster for Fox. Davis said one of the sticking points in the 17-month process was Brady’s dual role as broadcaster and potential team owner.

While Brady’s bid was pending, the league imposed a set of restrictions on him as a broadcaster that he has followed since he began working for Fox. Brady is barred from weekly production meetings with the players and coaches in the games he will cover, he cannot be in another team’s facility, and he can’t watch practice. Those restrictions will continue.

“I think a lot of owners around the league felt that was a potential conflict,” said Kansas City Chiefs owner Clark Hunt, who chairs the finance committee that raised the conflict of interest issues with Brady’s ownership. “It’s hard to know whether it will be an actual conflict, but it can be a potential conflict or perceived conflict.”

“Tom’s been abiding by the issues that we raised through the committee voluntarily since he began broadcasting,” NFL commissioner Roger Goodell said. “So that’s all been resolved.”

Davis said he understands the concerns because his father, Al Davis, was known for being protective of all Raiders intel.

“We’re paranoid is what we are in the Raiders,” Davis said. “I do know that the coaches and the quarterbacks do want to talk to him. They’re not going to give him the full story, and they’re not giving you guys the full story, either. When they’re talking, they’re telling you guys what they want the other team to hear.”

The Dallas Cowboys, who have had Brady’s Fox broadcast crew four times this season, are one of the teams that would prefer Brady be in production meetings during the week.

Cowboys communications executive Tad Carper told ESPN that he has informed Fox producers, as well as the league office, that Cowboys coaches want Brady to be in production meetings so he can have the full context to explain their decision-making in games to the Fox audience.

Another obstacle in Brady’s path to Raiders ownership was the possibility he might resume his playing career. In July 2023, owners voted to prohibit non-family member employees from having equity in a team, which means Brady would have to sell his stake in the Raiders in order to play for another team.

Goodell downplayed the 17 months it took for Brady to be approved as a Raiders minority partner.

“Ownership transactions take a long time,” he said.

Added Hunt: “There were a lot of things from a structure and due diligence standpoint that had to happen, which is why it took so long for it to be approved. We finally got all that put to bed, and are glad to get the transaction closed. I know the finance committee is glad not to be talking about it anymore.”

Goodell hopes that Brady and Raiders Hall of Famer Richard Seymour’s newly approved ownership will inspire other former players to explore ownership.

“I think there’s a lot of interest,” Goodell said. “And I’ve encouraged them. … There are others that are potentially going to be in process in the very near future.

“I think they add a lot to the ownership. I love, not just the diversity of it, but the diversity of thought, in the context of what’s good for the game. What can we do better? How do we improve? How do we get bigger? How do we continue to extend our aim in all parts?”