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At long last, Tom Brady is on track to be a limited partner with the Las Vegas Raiders — and officially close the book on his storied NFL playing career as he transitions to new roles as minority owner and network on-air broadcaster.
Brady’s pending investment in the Raiders was recently altered to reflect the proper valuation of the team, and league sources say he has reached the threshold to clear the NFL’s hurdles and officially join the ranks of ownership.
The plan is for the NFL’s Finance Committee to consider Brady’s investment on March 4 or 5 when members meet in New York, sources say. If all goes well, final approval should happen at the NFL Annual League Meeting in Orlando from March 24-27.
A league spokesman said on Saturday that the “matter remains under review by the finance committee.”
Sportico reported on Thursday that Brady’s valuation had increased after it was deemed by some NFL owners as below market value. Brady’s group, which includes Knighthead Capital co-founder Tom Wagner, is expected to purchase around 10% of the Raiders, with Brady having about 7% of that. Sportico valued the Raiders at roughly $5.8 billion.
Brady’s potential investment in the Raiders was first reported in May 2023.
Brady and Wagner are co-invested in a number of sports deals, including English soccer club Birmingham City, a Major League Pickleball franchise and an auto-racing team that competes in the World Endurance Championship.
Once Brady’s deal is final, the greatest QB of all time will finally, officially be retired, as non-family club employees — including players — are not allowed to own equity in teams.
While Brady’s transaction has been pending, he has served as an unofficial advisor to Mark Davis, helping on the coaching search and the hiring of offensive coordinator Luke Getsy.
Meanwhile, today’s Super Bowl also marks the end of Brady’s hiatus from the NFL, as he is scheduled to reemerge in the national spotlight as a broadcaster for FOX starting with 2024 season.
Sources say the plan is still for Brady to be a top analyst at FOX. On his Let’s Go! podcast on SirusXM, Brady recently said: “I’ve got a big broadcasting job that’s going to start in September. I’m already working hard on trying to make sure I’m ready for that opportunity.”
As for how that’s happening, sources say Brady is preparing the exact same way he prepared for football — with obsessive detail and a fierce and competitive desire to be the best. He’s spent countless hours doing research and studying not just the game, but the TV world.
He’s talked to a large group of experts in the TV business, from Erin Andrews to Stephen A. Smith and anyone in between. He’s also traveled out to the FOX Studios a handful of times this year, doing dry runs with Kevin Burkhardt, who is set to be his play-by-play broadcast partner on FOX’s No. 1 team. They are said to already have great chemistry, with the network looking forward to Brady taking center stage.
