Current:Home > MyTom Brady's bid to buy part of Raiders approved by NFL owners after lengthy wait -RiskWatch
Tom Brady's bid to buy part of Raiders approved by NFL owners after lengthy wait
View
Date:2025-04-16 16:02:19
Tom Brady's wait to join the NFL ownership ranks is finally over.
At the league's fall meeting Tuesday in Atlanta, owners officially unanimously approved Brady's bid to purchase approximately 10% of the Las Vegas Raiders with his business partner Tom Wagner.
"I'm incredibly humbled and excited to have been unanimously approved as an owner of the Las Vegas Raiders," Brady said in a statement. "Throughout my NFL career, I've learned that at its core, football is a game of teamwork, resilience, and a relentless pursuit of excellence. The Raiders franchise ,and the city of Las Vegas embody these same values, and I'm honored to become part of that story."
The vote brings to a close a process that began in May 2023 but was held up amid questions regarding the financial details of the agreement, including whether Brady had been given too favorable terms amid the franchise's rise in value.
But Brady's stake – which is at 5% on its own – was unanimously approved by the league's finance committee, making Tuesday's vote almost a formality.
All things Raiders: Latest Las Vegas Raiders news, schedule, roster, stats, injury updates and more.
Tuesday proved to be an eventful day for Raiders owner Mark Davis, with his team also trading wide receiver Davante Adams to the New York Jets.
"We traded Davante Adams for Tom Brady and a third-round pick," Davis said. "Although Tom can't play, he can help us select a quarterback in the future and potentially train him as well. So, it's a huge benefit to the organization."
Pro Football Hall of Famer and former Raiders defensive lineman Richard Seymour said Tuesday he, too, had acquired a stake in the franchise.
"I'm grateful to be an owner in the NFL. That's significant," Seymour told USA TODAY Sports' Jarrett Bell. "I embrace that opportunity and carry with it a sense of pride and purpose. My commitment goes beyond the numbers."
Said Davis of Seymour's move: "To me, it's having the right people as part of your organization. Richard and my father got along unbelievably. There was so much mutual respect between those two."
The partnership marks the second time Brady has done business with Davis, as the former quarterback also agreed to purchase part of the WNBA's Las Vegas Aces in March 2023.
Brady, 47, retired following the 2022 NFL season, but he hasn't strayed from the league's spotlight. Prior to his final campaign, he agreed to a contract with Fox to become the network's lead in-game analyst, a role he began this season.
Amid his pursuit of partial ownership of the Raiders, however, Brady was given several restrictions on access typically afforded to broadcasters. He has been barred from attending teams' practices or participating in production meetings, and he is not allowed in other teams' facilities. As an owner, he also is not permitted to criticize officials on air.
(This story has been updated with new information.)
veryGood! (6)
Related
- Why members of two of EPA's influential science advisory committees were let go
- Doritos cuts ties with Samantha Hudson, a trans Spanish influencer, after disturbing posts surface
- LSU's Angel Reese dismisses injury concerns after SEC Tournament win: 'I'm from Baltimore'
- Nathan Hochman advances to Los Angeles County district attorney runoff against George Gascón
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Why Fans Think Ariana Grande’s New Music Is About ex Dalton Gomez
- Which movie should win the best picture Oscar? Our movie experts battle it out
- The Challenge’s Nelson Thomas Gets Right Foot Amputated After Near-Fatal Car Crash
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Peek inside the gift bags for Oscar nominees in 2024, valued at $178,000
Ranking
- Meta donates $1 million to Trump’s inauguration fund
- Save up to 71% off the BaubleBar x Disney Collection, Plus 25% off the Entire Site
- Indiana lawmakers pass bill defining antisemitism, with compromises
- How Black women coined the ‘say her name’ rallying cry before Biden’s State of the Union address
- The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
- RNC votes to install Donald Trump’s handpicked chair as former president tightens control of party
- Peek inside the gift bags for Oscar nominees in 2024, valued at $178,000
- Teen arrested after 4 children, 2 adults found dead at house in Canada: Tragic and complex investigation
Recommendation
Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
Nathan Hochman advances to Los Angeles County district attorney runoff against George Gascón
Ireland’s Constitution says a woman’s place is in the home. Voters are being asked to change that
Man accused of firing gun from scaffolding during Jan. 6 Capitol riot arrested
A South Texas lawmaker’s 15
Biden signs a package of spending bills passed by Congress just hours before a shutdown deadline
Lawsuit accuses Portland police officer of fatally shooting unarmed Black man in the back
Appeal canceled, plea hearing set for Carlee Russell, woman who faked her own abduction