Tom Brady may soon add limited partner to his NFL resume – as his bid to own part of the Las Vegas Raiders received a massive boost.
While consistently teasing a return to the field, Brady has been on a hot pursuit to own part of the Raiders franchise since retiring from the NFL.
On Sunday, Ian Rapoport of NFL.com reported that Brady’s bid for 10 percent of the team is on its way to approval.
Sources say Brady becoming a limited partner could be voted on and approved by league ownership as early as October, per Rapoport. There is also a possibility that it will be settled at the December labor seminar and Special League meeting.
Either way, Brady’s approval will be cemented by the time the 2024 NFL season is over.
The finalization would end a prolonged back and forth for Brady, who first thought his purchase would be completed by May of 2023. For the past year and change, the bid was hung by the NFL’s Finance Committee with questions about the valuation of the percentage being sold to Brady.
The price Brady would pay was increased in February in line with the potential market value. By March, the situation was ‘progressing’ according to NFL Commissioner Roger Goodell.
‘We go through a very thorough process on all initial transfers,’ Goodell said in March at the Annual League Meeting, ‘so we’re just going through that process.’
Rapoport added that sources with direct knowledge of the situation said that many issues, such as the valuation and Brady’s new role with FOX Sports as an NFL broadcaster have been addressed and are in a better place.
All parties involved are purported to be happy with the approved valuation of the former Patriots star’s stake. His bid is set to move forward from the finance committee to the overall ownership vote, where it would need three-fourths to be approved.
While his ownership is on its way to materializing, Brady’s access for his FOX Sports duties will be limited due to his affiliation with the Raiders. His restricted areas include other teams’ facilities, practice, and production meetings.
Brady is also barred from criticizing officials. However, the line between criticism and analysis will be open for interpretation.
The seven-time Super Bowl champion will make his FOX Sports debut on Sunday, calling the Cowboys-Brows game at 4.25pm ET.
Raiders owner Mark Davis told NFL.com, “I have no comment at this time” before expressing his excitement for the Las Vegas’ regular-season opener on Sunday in Los Angeles against the Chargers.
