NFL Network has reported that Tom Brady is close to becoming a limited owner of the Las Vegas Raiders. The final hurdles have been cleared for his investment, with the league’s finance committee expected to review it by March 4 or 5. If approved, Brady will own seven percent of the Raiders and purchase 10 percent, marking the end of his playing career in the NFL as players are not allowed to have an equity stake in franchises.
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 requested that more funds be raised.
In addition to advising majority owner Mark Davis on team transactions and staffing under new head coach Antonio Pierce, Brady and Tom Wagner, co-founder of Knighthead Capital, have also worked together on deals for other sports investments. If approved, Brady will join a growing list of former NFL players who have transitioned into ownership roles in their respective teams.