Tom Brady is a significant step closer to NFL ownership.
Las Vegas Raiders owner Mark Davis announced on Monday that he and Brady have reached an agreement for the former quarterback to take a minority stake in the NFL franchise. The deal will now be sent to the NFL for approval by the league’s owners.
“We have reached an agreement for Tom Brady to be with the Raiders, and we have submitted it to the NFL for approval,” Davis told ESPN’s Paul Gutierrez.
Brady did not publicly announce the news of Davis’ announcement.
Terms of the deal were not reported. The deal would require the approval of 23 of the remaining 31 NFL owners. Any ownership deal requires the approval of 3/4 of the league’s franchises.
If approved, Brady will be the third player in league history to have an ownership stake in a franchise. Former Baltimore Colts tight end Jerry Richardson is the founding owner of the Carolina Panthers. Hall of Famer George Halas has been an owner, player and coach for the Chicago Bears since their inception in 1920.
Brady retired this offseason after 23 seasons as an NFL quarterback with the New England Patriots and Tampa Bay Buccaneers. He won six Super Bowls with the Patriots and a seventh with the Buccaneers after the 2021 season.
Brady’s ownership stake appears to close the door on any attempt to return as a player. If the 45-year-old wants to retire a second time, he will need approval from 3/4 of the league’s franchises in order for him to play for the Raiders. Brady promised in February that his second retirement announcement was “for good.” His former Patriots backup Jimmy Garoppolo signed with the Raiders this offseason.
Will Brady still call games for Fox?
The ownership stake reportedly won’t prevent Brady from calling games for Fox. Brady has a 10-year, $375 million contract to call games as an analyst for the network that is set to begin in 2023. He announced after his retirement in February that he would not begin calling games until the season in 2024, stating that he wants to “take the time to really learn, be good at what I want to do.”
ESPN reported that the NFL prohibits employees from holding positions of authority in media outlets with ownership stakes, but the policy does not apply to Brady’s role as on-air talent. Fox has “blessed” Brady’s desire to acquire an ownership stake, according to the report.
The reported plan would create conflict-of-interest issues at Fox as Brady calls games with results related to the Raiders.
