weather icon Mostly Clear
RJ App
Vegas News, Alerts, ePaper

Tom Brady moves closer to purchasing share of Raiders

Mark Davis and the Raiders are one step closer to bringing on former NFL star quarterback Tom Brady as a partial owner.

And in the process, creating a bit of history

Davis confirmed Monday that he and Brady are in agreement on a deal in which Brady would purchase a minority share of the team. The transaction still requires approval from NFL owners, who are convening this week in Minneapolis for their spring meetings. Approval isn’t expected to occur there, but the sense is it’s expected to happen relatively soon.

“We’re really excited about bringing Tom into the fold and him coming on board with the Raiders,” Davis said.

Davis noted the historical significance of Brady’s assent into ownership.

As Davis pointed out, Brady will become just the third NFL player to ascend to an ownership role, joining George Halas, who played, coached and owned the Chicago Bears, and former Carolina Panthers owner Jerry Richardson, who played for the Baltimore Colts.

“We think it’s pretty cool that Tom will be among such a short list of players that also moved into ownership,” Davis said.

The deal will be the second in less than five months between Davis and Brady, who purchased a share of the WNBA’s Aces.

Not long after that deal was consummated, Davis said he hoped the relationship would lead to more business dealings, with the Raiders being an obvious next step.

“I hope for a long-term relationship in a number of things,” Davis said. “He’s a unique individual.”

No details of the Raiders’ deal with Brady have been disclosed.

The Raiders were valued at $5.1 billion in 2022, so any percentage of the team would come at a considerable cost. For instance, even a 1 percent purchase would come in at more than $50 million.

If the deal is completed, Brady is not expected to have any operational control over the football program.

Brady, a seven-time Super Bowl champion, announced his retirement from the NFL after last season.

Contact Vincent Bonsignore at vbonsignore@reviewjournal.com. Follow @VinnyBonsignore on Twitter.

Like and follow Vegas Nation