LAS VEGAS RAIDERS

Report: Tom Brady in line to be approved as part owner of Raiders

Feb 12, 2024, 7:00 AM

Las Vegas Raiders owner and managing general partner and Las Vegas Aces owner Mark Davis (L) and To...

LAS VEGAS, NEVADA - OCTOBER 08: Las Vegas Raiders owner and managing general partner and Las Vegas Aces owner Mark Davis (L) and Tom Brady attend Game One of the 2023 WNBA Playoffs finals between the Aces and the New York Liberty at Michelob ULTRA Arena on October 08, 2023 in Las Vegas, Nevada. The Aces defeated the Liberty 99-82. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ethan Miller/Getty Images)

(Photo by Ethan Miller/Getty Images)

After a lengthy delay due to concerns by other NFL owners about the potentially low price, it appears Tom Brady is on track to be approved as a part owner of the Las Vegas Raiders, NFL Network reported on Sunday.

Brady’s contribution to the ownership group reportedly has been adjusted to line up with the Raiders’ market value and will be reviewed by the NFL’s Finance Committee when it meets in New York on March 4 or 5.

Brady initially came to an agreement with Raiders majority owner Mark Davis in May that would make the seven-time Super Bowl champion a minority owner of the NFL’s Las Vegas franchise with a 10 percent stake for a reported $175 million.

However, several owners, including Indianapolis Colts owner Jim Irsay, expressed concern that Brady’s initial investment did not match the Raiders’ market value, necessitating the adjustment, according to multiple reports earlier this week.

“We’re trying to work through,” Irsay said of the ongoing review of Brady’s deal. “The number just has to be a reasonable number for purchase price for Tom, is the only thing. If reasonable value says that 10 percent should be $525 million, you can’t pay $175 million.”

The Raiders were valued by Forbes at $6.2 billion in August.

A league spokesman told NFL Network on Saturday the “matter remains under review by the finance committee.”

Final approval of the former New England Patriots and Tampa Bay Buccaneers star’s ownership could come during the NFL Annual League Meeting on March 24-27 in Orlando.

Brady already is part-owner of a sports team primarily owned by Davis. In March, Brady acquired a minority stake in the WNBA’s Las Vegas Aces.

Regardless of what happens with his ownership attempts, Brady will be watching the upcoming NFL season from his position in the broadcast booth as Fox’s lead NFL analyst. He reportedly signed a 10-year, $375 million contract for the gig.

–Field Level Media

Thank you for reading SactownSports.com. Follow us on Twitter and Google News, and subscribe to our YouTube channel.

Newsletter

Las Vegas Raiders

Davante Adams #17 of the Las Vegas Raiders catches a pass for a touchdown in the first quarter of t...

Field Level Media

Raiders GM shuts down trade rumors involving Davante Adams

Las Vegas Raiders GM Tom Telesco has a message for teams interested in trading for Davante Adams: 'He's a Raider.'

19 hours ago

Josh Jacobs #28 of the Las Vegas Raiders walks off the field after losing to the Kansas City Chiefs...

Amiliano Fragoso

Report: Raiders attempting to re-sign Josh Jacobs, will not use franchise tag

The Las Vegas Raiders will not franchise tag star RB Josh Jacobs, expected to try and re-sign him long-term during free agency.

2 days ago

Las Vegas Raiders logos are shown on a wall before a game between the Raiders and the Los Angeles C...

Joseph Jarosz

Las Vegas Raiders add JoJo Wooden as Senior Director of Player Personnel

The Las Vegas Raiders have named JoJo Wooden as their new Senior Director of Player Personnel. Wooden spent time with new GM Tom Telesco with the Chargers.

2 days ago

Offensive line coach Joe Philbin of the Dallas Cowboys looks on from the sidelines during an NFL ga...

Amiliano Fragoso

Raiders hire former HC Joe Philbin as senior offensive assistant

The Las Vegas Raiders will reportedly hire Joe Philbin as a senior offensive assistant for the 2024 NFL season.

8 days ago

San Francisco 49ers Quarterback Jimmy Garoppolo (10) talks with San Francisco 49ers Quarterback coa...

Joseph Jarosz

Former Broncos OC Rich Scangarello joins Raiders as QB coach

According to NFL Network’s Tom Pelissero, Rich Scangarello is set to join the Las Vegas Raiders as their quarterbacks coach.

8 days ago

A detailed view of the NFL Combine logo at Lucas Oil Stadium on March 02, 2023 in Indianapolis, Ind...

Joseph Jarosz

Important dates for the 2024 NFL offseason

Before we know it, the NFL offseason will be over and teams will be reporting for training camps in July to kickstart the 2024 season.

9 days ago

Report: Tom Brady in line to be approved as part owner of Raiders