Current:Home > FinanceTom Brady’s purchase of a minority stake in the Las Vegas Raiders is approved by NFL team owners -WealthTrail Solutions
Tom Brady’s purchase of a minority stake in the Las Vegas Raiders is approved by NFL team owners
View
Date:2025-04-15 03:05:06
ATLANTA (AP) — Tom Brady has another new role in the NFL: owner.
The seven-time Super Bowl champion purchased a minority stake in the Las Vegas Raiders, a deal unanimously approved by NFL team owners on Tuesday at the league’s annual fall meeting.
In a lengthy statement on X, Brady said he was “incredibly humbled and excited” to receive approval.
“I’m eager to contribute to the organization in any way I can, honoring the Raiders’ rich tradition while finding every possible opportunity to improve our offering to fans... and most importantly, WIN football games,” Brady posted.
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 can’t play, I think he can help us select a quarterback in the future and potentially train him as well.”
Brady, who played 23 seasons with the Patriots and Buccaneers, takes 5% control of the Raiders. He needed to receive 24 of 32 votes. The 47-year-old Brady can’t come of out retirement 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 deeply about this game. He believes in its future and I think that’s just a signal of that.”
The deal was initially agreed upon in May 2023, but it took owners 17 months to give their approval over concerns Brady was receiving too much of a discount from Davis. Brady’s new job as a broadcaster with Fox also was an issue because it could represent a conflict of interest.
“There were a lot of things from a structural and due diligence standpoint that had to happen, which is why it took so long for it to be approved and we finally got all that put to bed,” Chiefs owner Clark Hunt said.
The AP Top 25 college football poll is back every week throughout the season!
Get the poll delivered straight to your inbox with AP Top 25 Poll Alerts. Sign up here.
The NFL placed restrictions on Brady before the season to limit his access. He is not permitted to attend production meetings in person or virtually and may not have access to team facilities or players and coaching personnel. Brady may broadcast Raiders games. He also has to abide by the league constitution and bylaws that prohibit public criticism of officials and other clubs.
Brady also owns a minority stake in the WNBA’s Las Vegas Aces, who 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 a lifetime, and I accept it with both purpose and pride,” Seymour posted on X. “With great opportunity comes great responsibility. And I pledge to be a worthy steward of our game—and all it makes possible.”
Brady and Seymour are the fifth and sixth former NFL players to become owners after George Halas Sr., Jerry Richardson, Warrick Dunn and John Stallworth.
Davis joked that he didn’t like Brady very much when he was an opponent but he tried hard to sign him as a free agent in 2020 before the 15-time Pro Bowl QB went to Tampa Bay.
“We’re really proud to have him as part of the organization,” Davis said. “He’s a competitor, he’s a bright young man. There’s just so many pluses 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 one in Los Angeles. They moved to Las Vegas in 2020 and haven’t won a playoff game since losing the Super Bowl to Tampa Bay on Jan. 26, 2003.
___
AP Sports Writer Mark Anderson in Las Vegas contributed to this report.
___
AP NFL: https://apnews.com/hub/nfl
veryGood! (8345)
Related
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Justice Department says it won't prosecute Merrick Garland after House contempt vote
- Will the Lightning Bug Show Go On?
- Can Ravens' offense unlock new levels in 2024? Lamar Jackson could hold the key
- Tom Holland's New Venture Revealed
- Here are the most and least affordable major cities in the world
- Taylor Swift says Eras Tour will end in December
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Letter Openers
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- North West's Sassiest Moments Prove She's Ready to Take on the World
Ranking
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Pope Francis is first pope to address G7 summit, meets with Biden, world leaders
- Taylor Swift fans danced so hard during her concerts they created seismic activity in Edinburgh, Scotland
- Dallas coach pokes the bear again, says Boston was 'ready to celebrate' before Game 4
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- New Mexico Debates What to Do With Oil and Gas Wastewater
- Bridgerton Season 4: Cast Teases What’s Next After Season 3 Finale
- US Coast Guard says investigation into Titan submersible will take longer than initially projected
Recommendation
'Stranger Things' prequel 'The First Shadow' is headed to Broadway
'Predator catchers' cover the USA, live-streaming their brand of vigilante justice
Judge could soon set trial date for man charged in killings of 4 University of Idaho students
Couple rescued from desert near California’s Joshua Tree National Park after running out of water
Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
Kansas City Chiefs' Super Bowl rings have a typo
Decomposed remains of an infant found in Kentucky are likely missing 8-month-old girl, police say
Screw warm and fuzzy: Why 2024 is the year of feel-bad TV