Seven-time Super Bowl champion Tom Brady has bought a minority stake in the Las Vegas Raiders, joining the ranks of NFL team owners, the NFL announced.
Brady’s purchase, which will give him a 5% ownership stake in the franchise, was approved at the NFL owners meeting in Atlanta on Tuesday, the Associated Press reported.
“I am extremely humbled and excited to have been unanimously approved as owner of the Las Vegas Raiders,” Brady said. post on social media.
“I want to contribute to the organization in any way I can, finding every opportunity to better serve our fans while honoring the Raiders’ rich tradition…and most importantly, football… It’s about winning the game.”
NFL Commissioner Roger Goodell welcomed Brady’s investment Tuesday during the fall league meetings in Atlanta.
“It’s great that Tom Brady wants to invest in the NFL,” Goodell told reporters. “He cares so much about this game. He believes in its future and I think that’s a real sign of that.”
The deal was first reported about a year and a half ago, but needed approval from at least three-quarters of the league’s owners to become official. Multiple media outlets reported that approval was delayed due to questions about Brady’s valuation of the club’s stock and concerns about Brady’s role as a Fox broadcaster.
Unlike other game broadcasters, Brady “will be limited from participating in in-person or online broadcast production meetings and may not have access to team facilities, players and coaches,” according to the Associated Press. Brady will reportedly be prohibited from publicly criticizing officials or other teams, but will be allowed to broadcast Raiders games.
Brady is in his first season as a commentator on FOX’s powerhouse broadcast team after retiring after the 2022 NFL season.
According to the Associated Press, Brady’s purchase agreement also prohibits the 47-year-old from returning to the NFL as a player unless he first sells his stake in the team.
The future Hall of Famer set nearly every passing record during his 23-year playing career, including regular season passing yards (89,214) and passing touchdowns (649). Brady was a three-time league MVP and amassed the most wins (251) in NFL history.
The deal with the Raiders marks Brady’s second partnership with Raiders owner Mark Davis. In March 2023, it was announced that Brady had acquired ownership of the WNBA’s Las Vegas Aces, which was also owned by Davis.
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