For better or worse, it sounds like Tom Brady is eventually going to own a minority stake in the Las Vegas Raiders.
A year ago, Brady’s proposal to buy approximately 10 percent of the team at a 70 percent discount was vetoed by the NFL owners, but it sounds like Brady and his investment group will soon be back at the table with another proposal for the owners to review.
According to a Sportico report on Thursday, Brady’s group is proposing to buy 10 percent of the Raiders, and 7 percent of that stake would belong to Brady…
Tom Brady’s pending investment into the Las Vegas Raiders, which has been held up for more than eight months, was recently revised to increase the valuation on the team, according to multiple people familiar with the matter.
The original agreement, announced last May, was met with resistance from some NFL owners who were concerned about the valuation, which the Washington Post reported was 70% below market value. Brady’s group includes Knighthead Capital co-founder Tom Wagner, who is coordinating financing and investing alongside the quarterback, sources said. They’re looking to buy a little more than 10% of the franchise, said the people, who were granted anonymity because the details are private. Of that, Brady would have about 7%.
In the last few months, the valuation on Brady’s deal was raised to mirror the Raiders’ valuation in an unrelated transaction from earlier in 2023, one source said. League staffers, lawyers and financial advisors continue to perform diligence on the Brady group’s agreement, and there is no set timetable for resolution, which would still require ownership approval.”
Raiders’ owner Mark Davis has a well-known affinity for Brady, and the seven-time Super Bowl champion quarterback would probably have spent his final NFL seasons in Las Vegas if Jon Gruden had not vetoed the owner’s idea in March of 2020.
Davis and Brady are already co-owners of the WNBA’s Las Vegas Aces, and that partnership might be on the verge of extending to the NFL much sooner than later.
twitter: @raidersbeat
Sooner or later, all the haters wanna be Raiders.