It’s official, Tom Brady is getting a piece of the Las Vegas Raiders, TMZ reports.
According to the report by TMZ, the legendary NFL quarterback’s bid to buy a minority stake in the franchise was approved during the league’s fall meeting in Atlanta on Tuesday — securing the minimum 24 votes needed to push it forward.
Tom Brady first agreed to terms with Raiders owner Mark Davis back in May 2023 — it was reported at the time he and businessman Tom Wagner would be buying a 10% stake in the franchise.
The deal needed to be fine-tuned, though … as the league’s financial committee believed the initial terms were too cheap.
The ownership is expected to have an impact on Brady’s new day job … as TB12 — who just started his 10-year, $375 million broadcasting deal with FOX — will reportedly not be allowed in production meetings with players and coaches, visit other teams’ facilities or criticize referees during games (among other restrictions).
Davis spoke out about bringing Brady on board last year … saying he was “excited” to welcome him to the Raider family.
The 47-year-old is not the first former athlete to buy a stake in a professional sports team. He joins the likes of Michael Jordan, Alex Rodriguez and Magic Johnson, who have all gotten into ownership after their playing days.
On top of the Raiders, Tom Brady also invested in the Las Vegas Aces, Birmingham City soccer club, professional pickleball and an E1 Series raceboat team.