March 4, 2024

Tom Brady’s purchase of a minority stake in the Raiders gets closer to approval

A yr after Tom Brady and Mark Davis agreed to a deal that may make Brady a minority proprietor of the Raiders, the league is lastly shut to approving that deal.

Davis had initially agreed to promote Brady a stake in the group at a vital low cost, which different house owners balked at, and as a end result Brady’s purchase was stalled. But NFL Media experiences right this moment that the Brady-Davis settlement was lately altered to replicate the correct valuation of the group, and it now seems set to acquire approval.

The NFL’s Finance Committee will take into account Brady’s purchase at its upcoming assembly on March 4 or 5, and that may pave the method for approval at the NFL Annual League Meeting in Orlando March 24-27.

Brady is buying a share of the group together with financier Tom Wagner of Knighthead Capital. How a lot cash Brady is placing in and the way a lot Wagner is placing in stays unclear, however it seems that the different house owners are actually glad that the whole quantity of cash they’re investing in their 10 p.c stake in the Raiders displays the precise worth of 10 p.c of an NFL group.