The NFL Network reported that Tom Brady is on the verge of becoming a limited owner of the Las Vegas Raiders. The final hurdles have been cleared for Brady’s investment, and it is expected to be reviewed by the league’s finance committee by March 4 or 5. If approved, it will happen at the NFL Annual League Meeting on March 24-27.
The delay in the process was due to Brady and his group needing to increase their financial commitment to reflect the proper valuation of the Raiders. Some owners felt that Brady’s proposed investment didn’t match the current value of the team, so they asked for more money.
Brady has been advising majority owner Mark Davis on team transactions and filling out staff under new head coach Antonio Pierce while waiting for approval. In addition to this, he has also teamed up with Tom Wagner, co-founder of Knighthead Capital, on deals for other sports investments.
If Brady gains approval for his ownership, it will mark the end of his playing career in the NFL as players are not allowed to have an equity stake in franchises.