Fox Sports chief NFL analyst Tom Brady stands on the field during warmups before an NFL football game between the Detroit Lions and the Dallas Cowboys in Arlington, Texas, Sunday, Oct. 13, 2024.
12:48 JST, October 16, 2024
ATLANTA (AP) — Tom Brady has another new role in the NFL: owner.
The seven-time Super Bowl champion bought a minority stake in the Las Vegas Raiders, a deal that was unanimously approved Tuesday by NFL team owners at the league’s annual fall meeting.
In a lengthy statement about X, Brady said he was “incredibly humbled and excited” to receive approval.
“I am eager to contribute to the organization in any way I can while honoring the rich tradition of the Raiders while taking every opportunity possible to improve our offering to fans… and most importantly, WIN football games,” said Brady.
Brady also thanked Raiders majority owner Mark Davis, NFL Commissioner Roger Goodell and others.
“It’s an exciting day for the Raider organization,” Davis said. “Although Tom cannot play, I believe he can help us select a quarterback in the future and possibly coach him as well.”
Brady, who played 23 seasons with the Patriots and Buccaneers, takes 5% of control of the Raiders. He had to get 24 of the 32 votes. The 47-year-old Brady cannot retire and play again unless he sells his stake in the team.
“It’s great that Tom Brady wants to invest in the NFL,” Goodell said. “He cares a lot about this match. He believes in its future and I think that’s just a signal of that.”
The deal was initially agreed in May 2023, but it took owners 17 months to approve due to concerns that Brady was getting too much of a discount from Davis. Brady’s new job as a broadcaster at Fox was also an issue because it could pose a conflict of interest.
“There were a lot of things that had to happen from a structural and due diligence perspective, and that’s why it took so long to get approved and we were finally able to get all of that under control,” Chiefs owner Clark Hunt said.
The NFL placed restrictions on Brady before the season to limit his access. He will not be permitted to attend production meetings in person or virtually and may not have access to team facilities or to players and coaching staff. Brady is allowed to broadcast Raiders games. He must also adhere to the league’s constitution and bylaws, which prohibit public criticism of officials and other clubs.
Brady also owns a minority stake in the WNBA’s Las Vegas Aces, which are owned by Davis.
Pro Football Hall of Famer Richard Seymour, who played with Brady in New England, also received approval Tuesday to purchase a minority stake in the Raiders.
“This is the mission of my life, and I accept it with both purpose and pride,” Seymour wrote on X. “With great opportunity comes great responsibility. And I promise to be a worthy steward of our game – and all that makes it possible.”
Brady and Seymour are the fifth and sixth former NFL players to become owners, following George Halas Sr., Jerry Richardson, Warrick Dunn and John Stallworth.
Davis joked that he didn’t like Brady much when he was an opponent, but he went out of his way to sign him as a free agent in 2020 before the 15-time Pro Bowl QB headed to Tampa Bay.
“We are very proud to have him as part of the organization,” Davis said. “He’s a competitor, he’s a smart young man. There are just so many positives for both sides. It’s great.”
The Raiders haven’t won a Super Bowl since capturing their third title in eight years following the 1983 season. They won their first two championships in Oakland and the last in Los Angeles. They moved to Las Vegas in 2020 and have not won a playoff game since losing the Super Bowl to Tampa Bay on January 26, 2003.
