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Sources – Tom Brady expected to be approved as minority owner of Raiders
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Sources – Tom Brady expected to be approved as minority owner of Raiders

Tom Brady is expected to be approved as minority owner of the Las Vegas Raiders at the NFL’s fall meeting in Atlanta, league sources told ESPN on Saturday.

The NFL’s finance committee has reviewed Brady’s offer and plans to put it to a vote of the other owners, requiring 24 of the league’s 32 owners to approve it.

But as a source told ESPN, the committee would not put Brady’s offer before the owners for a vote if it were not approved, which now appears to be a formality.

The finance committee unanimously approved Brady as a minority owner, and no one could remember the last time owners voted against the finance committee’s unanimous recommendation, sources told ESPN.

Brady is therefore still days away from purchasing approximately 10% of the Raiders, together with businessman Tom Wagner, from owner Mark Davis. It’s a trade that was agreed to in May 2023, but had to be refined and adjusted after the league’s finance committee found the original offer was too low.

“We are excited to have Tom join the Raiders,” Davis told ESPN’s Paul Gutierrez at the time of the initial deal. “And it’s exciting because he will be only the third player in National Football League history to become an owner.”

George Halas and Jerry Richardson are the other two.

Before what turned out to be Brady’s final NFL season in 2022, the seven-time Super Bowl-winning quarterback agreed to a 10-year contract worth $375 million to join Fox as an analyst once his playing career was over. He retired in 2023 and agreed to start at Fox for the 2024 season.

Brady, 47, is expected to become one of the most prominent former athletes to own part of a team, joining such greats as Michael Jordan, who became part-owner of the Bobcats/Hornets franchise; Magic Johnson, who was part of an investment group that bought stakes in the Dodgers and the Commanders; Dwyane Wade, who bought an ownership stake in the Jazz in 2021; Alex Rodriguez, who became part owner of the Timberwolves in 2021; Mario Lemieux, who has owned the Penguins since 1999; Patrick Mahomes, who became part owner of the Royals in 2020; Warrick Dunn, a limited partner with the Falcons; John Stallworth with the Steelers; and Lewis Hamilton with the Broncos.