Tom Brady is on the verge of becoming a limited owner of the Las Vegas Raiders. According to NFL Network, the final hurdles have been cleared for his investment. By March 4 or 5, his investment is expected to be reviewed by the league’s finance committee, with final approval happening at the NFL Annual League Meeting on March 24-27.
The delay in the process was due to Brady and his group needing to increase their financial commitment to reflect the proper valuation of the Raiders. Some owners felt that Brady’s proposed investment didn’t match the current value of the Raiders, so the number needed to be raised.
In addition to owning seven percent of the Raiders, Brady has been advising majority owner Mark Davis on team transactions and filling out staff under new head coach Antonio Pierce. This marks a change from his usual role as a player for Tampa Bay Buccaneers.
Brady and Tom Wagner, co-founder of Knighthead Capital, have also teamed up on deals for other sports investments. If he gains approval for his ownership, it will mark the official end of his playing career in the NFL, as players are not allowed to have an equity stake in franchises.