Current:Home > Contact-usTom Brady's bid to buy part of Raiders approved by NFL owners after lengthy wait-LoTradeCoin
Tom Brady's bid to buy part of Raiders approved by NFL owners after lengthy wait
View Date:2025-01-14 04:07:04
Tom Brady's wait to join the NFL ownership ranks is finally over.
At the league's fall meeting Tuesday in Atlanta, owners officially unanimously approved Brady's bid to purchase approximately 10% of the Las Vegas Raiders with his business partner Tom Wagner.
"I'm incredibly humbled and excited to have been unanimously approved as an owner of the Las Vegas Raiders," Brady said in a statement. "Throughout my NFL career, I've learned that at its core, football is a game of teamwork, resilience, and a relentless pursuit of excellence. The Raiders franchise ,and the city of Las Vegas embody these same values, and I'm honored to become part of that story."
The vote brings to a close a process that began in May 2023 but was held up amid questions regarding the financial details of the agreement, including whether Brady had been given too favorable terms amid the franchise's rise in value.
But Brady's stake – which is at 5% on its own – was unanimously approved by the league's finance committee, making Tuesday's vote almost a formality.
All things Raiders: Latest Las Vegas Raiders news, schedule, roster, stats, injury updates and more.
Tuesday proved to be an eventful day for Raiders owner Mark Davis, with his team also trading wide receiver Davante Adams to the New York Jets.
"We traded Davante Adams for Tom Brady and a third-round pick," Davis said. "Although Tom can't play, he can help us select a quarterback in the future and potentially train him as well. So, it's a huge benefit to the organization."
Pro Football Hall of Famer and former Raiders defensive lineman Richard Seymour said Tuesday he, too, had acquired a stake in the franchise.
"I'm grateful to be an owner in the NFL. That's significant," Seymour told USA TODAY Sports' Jarrett Bell. "I embrace that opportunity and carry with it a sense of pride and purpose. My commitment goes beyond the numbers."
Said Davis of Seymour's move: "To me, it's having the right people as part of your organization. Richard and my father got along unbelievably. There was so much mutual respect between those two."
The partnership marks the second time Brady has done business with Davis, as the former quarterback also agreed to purchase part of the WNBA's Las Vegas Aces in March 2023.
Brady, 47, retired following the 2022 NFL season, but he hasn't strayed from the league's spotlight. Prior to his final campaign, he agreed to a contract with Fox to become the network's lead in-game analyst, a role he began this season.
Amid his pursuit of partial ownership of the Raiders, however, Brady was given several restrictions on access typically afforded to broadcasters. He has been barred from attending teams' practices or participating in production meetings, and he is not allowed in other teams' facilities. As an owner, he also is not permitted to criticize officials on air.
(This story has been updated with new information.)
veryGood! (251)
Related
- Tua Tagovailoa playing with confidence as Miami Dolphins hope MNF win can spark run
- John F. Kennedy Jr., Kick Kennedy and More: A Guide to the Massive Kennedy Family
- A famous cherry tree in DC was uprooted. Its clones help keep legacy alive
- Sheriff’s office quickly dispels active shooter rumor at Disney World after fight, ‘popping’ sound
- Disney x Lululemon Limited-Edition Collection: Shop Before It Sells Out
- As Mike McCarthy enters make-or-break year, unprecedented scrutiny awaits Cowboys coach
- Milo Ventimiglia reunites with Mandy Moore for 'This Is Us' rewatch: See the photo
- Lionel Messi's Inter Miami already in MLS playoffs. Which teams are in contention?
- Cold case arrest: Florida man being held in decades-old Massachusetts double murder
- Oklahoma rodeo company blames tainted feed for killing as many as 70 horses
Ranking
- South Carolina to take a break from executions for the holidays
- Judge allows smoking to continue in Atlantic City casinos, dealing blow to workers
- Home contract signings hit lowest since 2001 as house hunters losing hope
- These Target Labor Day Deals Won’t Disappoint—Save up to 70% off Decor & Shop Apple, Keurig, Cuisinart
- North Carolina offers schools $1 million to help take students on field trips
- A fifth of Red Lobsters are gone. Here's every US location that's still open
- Court stops Pennsylvania counties from throwing out mail-in votes over incorrect envelope dates
- Group sues Texas over law banning state business with firms “boycotting” fossil fuels
Recommendation
-
Garth Brooks wants to move his sexual assault case to federal court. How that could help the singer.
-
Arizona office worker found dead in a cubicle 4 days after last scanning in
-
Do dogs dream? It's no surprise – the answer is pretty cute.
-
Police detain man Scotty McCreery accused of hitting woman at his Colorado concert
-
Deion Sanders addresses trash thrown at team during Colorado's big win at Texas Tech
-
Horoscopes Today, August 30, 2024
-
Navajo Nation adopts changes to tribal law regulating the transportation of uranium across its land
-
Catholic diocese sues US government, worried some foreign-born priests might be forced to leave