Tom Brady’s purchase of a minority stake in the Las Vegas Raiders is approved by NFL team owners

ATLANTA (AP) — Tom Brady has one other new function within the NFL: proprietor.

The seven-time Tremendous Bowl champion bought a minority stake within the Las Vegas Raiders, a deal unanimously authorized by NFL workforce house owners on Tuesday on the league’s annual fall assembly.

In a prolonged assertion on X, Brady stated he was “extremely humbled and excited” to obtain approval.

“I’m wanting to contribute to the group in any manner I can, honoring the Raiders’ wealthy custom whereas discovering each potential alternative to enhance our providing to followers… and most significantly, WIN soccer video games,” Brady posted.

Brady additionally thanked Raiders majority proprietor Mark Davis, NFL Commissioner Roger Goodell and others.

“It’s an thrilling day for the Raider group,” Davis stated. “Though Tom can’t play, I feel he will help us choose a quarterback sooner or later and doubtlessly prepare him as properly.”

Brady, who performed 23 seasons with the Patriots and Buccaneers, takes 5% management of the Raiders. He wanted to obtain 24 of 32 votes. The 47-year-old Brady can’t come of out retirement and play once more until he sells his stake within the workforce.

“It’s nice that Tom Brady desires to spend money on the NFL,” Goodell stated. “He cares deeply about this recreation. He believes in its future and I feel that’s only a sign of that.”

The deal was initially agreed upon in Might 2023, however it took house owners 17 months to present their approval over issues Brady was receiving an excessive amount of of a reduction from Davis. Brady’s new job as a broadcaster with Fox additionally was a difficulty as a result of it might signify a battle of curiosity.

“There have been quite a lot of issues from a structural and due diligence standpoint that needed to occur, which is why it took so lengthy for it to be authorized and we lastly obtained all that put to mattress,” Chiefs proprietor Clark Hunt stated.

The NFL positioned restrictions on Brady earlier than the season to restrict his entry. He isn’t permitted to attend manufacturing conferences in particular person or nearly and should not have entry to workforce amenities or gamers and training personnel. Brady might broadcast Raiders video games. He additionally has to abide by the league structure and bylaws that prohibit public criticism of officers and different golf equipment.

Brady additionally owns a minority stake within the WNBA’s Las Vegas Aces, who’re owned by Davis.

Professional Soccer Corridor of Famer Richard Seymour, who performed with Brady in New England, additionally acquired approval Tuesday to buy a minority stake within the Raiders.

“That is the mission of a lifetime, and I settle for it with each objective and delight,” Seymour posted on X. “With nice alternative comes nice duty. And I pledge to be a worthy steward of our recreation—and all it makes potential.”

Brady and Seymour are the fifth and sixth former NFL gamers to change into house owners after George Halas Sr., Jerry Richardson, Warrick Dunn and John Stallworth.

Davis joked that he didn’t like Brady very a lot when he was an opponent however he tried arduous to signal him as a free agent in 2020 earlier than the 15-time Professional Bowl QB went to Tampa Bay.

“We’re actually proud to have him as a part of the group,” Davis stated. “He’s a competitor, he’s a shiny younger man. There’s simply so many pluses for either side. It’s nice.”

The Raiders haven’t gained a Tremendous Bowl since capturing their third title in eight years following the 1983 season. They gained their first two championships in Oakland and the final one in Los Angeles. They moved to Las Vegas in 2020 and haven’t gained a playoff recreation since dropping the Tremendous Bowl to Tampa Bay on Jan. 26, 2003.

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AP Sports activities Author Mark Anderson in Las Vegas contributed to this report.

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