Tom Brady approved as minority owner of Las Vegas Raiders

Tom Brady is officially an owner of the Las Vegas Raiders. On Tuesday, the NFL owners approved Brady to be a minority owner after voting during the NFL fall league meeting in Atlanta. This comes after the NFL’s finance committee reviewed and approved Brady’s bid.

Brady will purchase around 10 percent of the Raiders along with businessman Tom Wagner from majority owner Mark Davis. The parties agreed to the transaction in May 2023, but it needed to be refined and adjusted after the league’s financial committee believed the initial offer was too discounted, per ESPN.

“We’re excited for Tom to join the Raiders,” Davis told ESPN’s Paul Gutierrez after the initial agreement. “And it’s exciting because he will be just the third player in the history of the National Football League to become an owner.”

“In June of last year, Brady explained to the Associated Press why he wanted to invest in the Raiders. “I grew up in the Bay Area. My favorite team was the 49ers. The team across the bay was the Raiders. And, you know, they’re an iconic NFL franchise,” Brady said.

Why Tom Brady wanted to be a Raiders minority owner

“When I look at a lot of the people that have impacted the NFL over a long period of time in the most positive way, (former Raiders owner and GM) Al Davis is one of them. And he’s not with us anymore but I’ve heard incredible stories. And then the opportunity came about to become a minority owner in the Raiders, it was a dream come true for me. I’ll be playing a very passive role. This is something that I’m interested in doing for the rest of my life. This is not something that I’m into it for a year or two years.”

Brady will be an owner and NFL analyst at the same time. In 2022, the seven-time Super Bowl champion quarterback agreed to a 10-year, $375 million contract to join Fox as an analyst once his playing career came to an end. Brady retired in 2023 but began his broadcasting career at Fox this season.