NFL team owners have approved Tom Brady's purchase of a minority stake in the Las Vegas Raiders, ending a 17-month wait for the seven-time Super Bowl champion. The decision was made on Tuesday at the league's annual fall meeting, with Brady acquiring a 5% controlling interest in the franchise.
Brady, 47, needed at least 24 of 32 votes to secure the deal, which was initially agreed upon in May 2023. The delay was due to concerns that Brady was receiving too significant a discount from Raiders majority owner Mark Davis, as well as potential conflicts of interest arising from Brady's role as a broadcaster for Fox.
To address these issues, the NFL has imposed restrictions on Brady, barring him from attending production meetings in person or virtually and limiting his access to team facilities, players, and coaching staff. However, he is permitted to broadcast Raiders games and must adhere to league rules prohibiting public criticism of officials and other clubs.
Brady's ownership stake also prevents him from returning to play in the NFL unless he sells his shares. He already holds a minority stake in the WNBA's Las Vegas Aces, also owned by Davis. Pro Football Hall of Famer Richard Seymour, a former teammate of Brady's with the New England Patriots, also received approval to purchase a minority stake in the Raiders.
Brady and Seymour become the third and fourth former NFL players to become team owners, following George Halas Sr and Jerry Richardson. The Raiders, who moved to Las Vegas in 2020, have not won a Super Bowl since the 1983 season and have not won a playoff game since losing Super Bowl XXXVII to the Tampa Bay Buccaneers in January 2003.
