NFL Network 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, and it is expected to be reviewed by the league’s finance committee on March 4 or 5, with final approval happening at the NFL Annual League Meeting on March 24-27.
Despite this, there was a delay in the process 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 Raiders, so the number needed to be raised.
In addition to this investment, Brady has also been advising majority owner Mark Davis on team transactions and the filling out of the staff under new head coach Antonio Pierce. However, if Brady gains approval for his ownership, it will mark the official end of his playing career in the NFL as players are not allowed to have an equity stake in franchises.
Brady and Tom Wagner, co-founder of Knighthead Capital, have also teamed up on deals for other sports investments.