In place for months, Tom Brady‘s agreement to buy a Raiders stake remains on hold ahead of a crucial point. The next round of NFL owners’ meetings are set to begin Oct. 17, and the Washington Post’s Mark Maske and Nicki Jhabvala report Brady’s purchase is unlikely to be ratified at that point.
Brady’s stake of the franchise is believed to be between five and 10%, according to Maske and Jhabvala, who report owners have issues with the discounted price Mark Davis is offering the recently retired quarterback. Although minority pieces of a sports franchise are frequently sold for discounted rates — due to limited partners’ minimal contributions in franchise operations — the Post reports Davis may be offering Brady an approximate 70% discount to join his ownership group.
Multiple issues are clouding the deal, but the stake price appears to be the lead item. The former Patriots and Buccaneers passer has said he plans to play a “very passive” role as a Raiders owner, and he was recently approved as a part-owner of the Las Vegas Aces, a WNBA franchise Davis owns. Twenty-four owners must approve Brady’s share of the Raiders. As of now, that is not expected to take place at the upcoming meetings, which run from Oct. 17-18.
Support does exist among NFL brass and the league’s finance committee for Brady’s Raiders agreement to be approved, per Maske and Jhabvala. Brady remaining involved with the NFL would understandably be enticing for many, though the all-time great is also planning to begin a career as a FOX analyst in 2024. Brady agreed to a 10-year, $375MM contract in 2022 to become FOX’s lead analyst when his playing career ended. Brady, 46, delayed that move for a year, intending to take time off before committing fully. But the finance committee is not planning to approve Brady’s stake at the above-referenced price.
Considering Brady’s popularity, it is certainly notable this many “no” votes are in place. The other issues holding up a deal are not known, but Brady agreed to become a Raiders part-owner less than a year after the NFL slapped the Dolphins with a steep penalty — loss of a 2023 first-round pick and a 2024 third — for a tampering scandal in which the AFC East franchise eyed Brady as a player/owner and Sean Payton as head coach. That arrangement would have needed full ownership approval, which seemed unlikely given how Brady’s talent could have affected other teams under that plan. Brady serving as a Raiders player/owner — a scenario that has been shot down on multiple occasions — would also need 31 “yes” votes; that would also be viewed as unlikely.
Unlike last year, Brady has said he is done for good. The Jets were not planning to reach out to the future first-ballot Hall of Famer after Aaron Rodgers‘ injury. The Raiders have used fourth-round rookie Aidan O’Connell as Jimmy Garoppolo‘s backup, though the team did look into Brady as a player before his February retirement.
For now, Brady remains unattached. But it is not out of the question the remaining issues are resolved and the 23-year veteran signs on in a Raiders ownership-only role. The next round of meetings are scheduled for Dec. 12-13.