Owner Mark Davis confirmed the Las Vegas Raiders reached an agreement with Tom Brady to become a limited partner, ESPN reported Monday. Davis said the team has forwarded the arrangement to the league for approval.
“We have come to an agreement for Tom Brady to become a partner in the Raiders and we have submitted it to the NFL for approval,” Davis said. “We’re excited for Tom to join the Raiders, and it’s exciting because he will be just the third player in the history of the National Football League to become an owner.”
Brady’s Investment Is ‘Passive’
News of the sides’ mutual interest came to light on May 12. They discussed Brady’s potential involvement with the team for a couple of weeks. Once NFL owners vet Brady, he will need to be approved by 24 of the 32 of them. However, Brady would not have any control over the team’s business or football decisions. His investment in the team reportedly would be “passive.”
This isn’t the first time Brady would join an ownership group led by Davis. In March, Brady announced he owns a stake in the WNBA’s Las Vegas Aces, which is also primarily owned by Davis.
Brady’s 10-year, $375-million contract with Fox reportedly will not affect the deal, as the network has “blessed” his potential involvement. NFL owners cannot hold positions at media companies that affect broadcast rights negotiations. Brady won’t have that authority at Fox, allowing him to work there and own a stake in the Raiders.
Brady Also Had Talks with Dolphins
Brady’s interest in becoming a part owner of an NFL team isn’t new. In 2021 and 2022, Brady had discussions with Miami Dolphins brass — owner Stephen Ross and vice chairman/limited partner Bruce Beal — about becoming a minority partner in the team.
However, a six-month investigation by the NFL found the Dolphins violated tampering policies by talking to Brady, who was under contract with the Tampa Bay Buccaneers at the time. The Dolphins were stripped of their first-round pick in the 2023 NFL Draft for illegal contact with Brady.
Brady has connections with some of the Raiders’ players, coaches and management staff. Quarterback Jimmy Garoppolo was Brady’s backup in New England. Head coach Josh McDaniels was Brady’s offensive coordinator from 2006-2008 and 2012-2019. General manager Dave Zeigler worked in the Patriots front office from 2013-2021.
Brady said he retired “for good” on Feb. 1 after 23 seasons in the NFL. His career résumé includes seven Super Bowl wins, and he is the only player to win Super Bowl MVP for multiple franchises. He holds NFL records in major career passing categories, including passing yards, completions, touchdown passes and games started.