NFL legend Tom Brady is one step closer in securing an ownership stake in the Las Vegas Raiders after recently clearing a threshold to join ownership ranks.
It is believed that Brady, alongside Knighthead Capital Co-Founder Tom Wagner, will acquire a 10% stake in the Raiders with the former New England Patriots quarterback receiving 7%.
The seven-time Super Bowl winner’s stake was altered to reflect the proper valuation of the Raiders, which now stands at $5.8bn, which resulted in Brady being cleared to take over as a minority owner pending an NFL Finance Committee vote.
The vote to approve Brady and Wagner’s acquisition will be decided on 4 or 5 March in New York and if approved, both individuals will receive confirmation at the NFL Annual Meeting in Orlando between 24-27 March.
A stake in the Las Vegas NFL team would become Brady’s most significant sports investment yet since retiring from football in 2022, which would become official if his stake in the franchise is cleared due to league players unable to own equity in teams whilst still playing.
Whilst the NFL Finance Commission will seal the stake’s fate, Brady has been serving as an unofficial advisor to franchise owner Mark Davis in the team’s success of bringing in Luke Getsy as its new offensive coordinator.
Brady, alongside Wagner, have been active in many sports investment opportunities. The three-time NFL MVP secured a minority ownership in English football club Birmingham City serving as a Chairman on an advisory board.
The former quarterback has also invested in the WNBA team the Las Vegas Aces, as well as a Major League Pickleball franchise and a World Endurance Championship team.
Brady was present at the Raiders’ Allegiant Stadium for Super Bowl LVIII last night to work for FOX as part of his 10-year $375m broadcast deal with the sports broadcaster.