NFL legend Tom Brady bid to purchase a minority stake in the Las Vegas Raiders was approved on Tuesday.
Videos by FanBuzz
The Seven-time Super Bowl champ's bid was approved during the league's Fall meeting where it reportedly received a unanimous vote
Tom's Raiders Bid Went Through Rigorous Vetting
Brady was prohibited from buying shares from Raiders owner Mark Davis back in May 2023 for a variety of reasons. According to the NFL's finance committee, the price at which he was being sold his stake was far less than the team's true worth. Owners feared that may make their clubs less valuable. In February, the purchase price was changed, allowing the deal to proceed.
The former Patriots quarterback and his business partner, Tom Wagner, reportedly agreed to purchase around 10 percent in shares of the Raiders and split it between the two of them. Brady's 5% would put the value of his share at $335 million.
Brady Must Abide by New Set of Rules
In August, the NFL placed restrictions on Brady's broadcasting access in leu of his potential involvement with the Raiders. Now that the arrangement is official, Brady is bound to a new set of restrictions as a broadcaster. He is not permitted to be in another team's facility, witness the team's practice, or attend in person or virtual broadcast production meetings.
Brady is also now subject to fines under the league's gambling and anti-tampering policies as well as Subject to fines or even suspension if he goes too far in criticizing game officials or other clubs.
Brady, who retired from the NFL following the 2022 season, is working with play-by-play announcer Kevin Burkhardt on FOX's top NFL broadcasting team. He signed a 10-year deal with the network in 2022, but this is Brady's first season announcing games
