TOM Brady’s proposed part-ownership of the Las Vegas Raiders could leave other owners furious.
The football legend has had his minority stake purchase approved by NFL team owners at the league’s annual fall meeting.
He needed to receive 24 of 32 votes and will now take five per cent control of the Raiders.
According to Sports Business Journal, Brady and his co-investor, Knighthead Capital Management founder Tom Wagner, will pay $244million.
And $24m of that is a prorated tax arising from the team’s 2020 relocation to Vegas from Oakland, California.
The NFL initially balked at Brady’s bid fearing it set the value of the equity at too low of a price.
Last year, Colts owner Jim Irsay claimed the price Brady would pay was not nearly enough.
The deal was initially agreed in May 2023.
But it took owners 17 months to give their approval over concerns Brady was receiving too much of a discount from Raiders majority owner Mark Davis.
And Brady’s new job as a broadcaster with Fox – worth $375m over ten years – was also was a conflict of interest issue.
The NFL placed restrictions on Brady before the season to limit his access.
He is not allowed to attend production meetings in person or virtually and may not have access to team facilities or players and coaching personnel.
But Brady can still broadcast Raiders games.
Brady is also a part-owner of the WNBA’s Las Vegas Aces, also owned by Raiders owner Mark Davis.
The American icon retired in 2023 after wining seven Super Bowl titles during his 23-year career.
Brady left the sport regarded as the best quarter-back of all time.
