Looks like Tom Brady is not letting any business opportunity pass by. The former Patriots QB is on his way to become a minority owner of the Las Vegas Raiders. His group, which includes Knighthead Capital co-founder Tom Wagner, is set to receive a 10% stake in Mark Davis’ team after facing months of pushback and resistance from other NFL owners.
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According to Forbes, the Las Vegas Raiders are valued at $6.2 billion. Acquiring a 10% stake in the Raiders franchise would typically cost around $525 million. However, there was disagreement over the valuation, with Raiders owner Mark Davis initially willing to part with 10% of the franchise for only $175 million back in October. Following complaints from owners like Jim Irsay about the discount and valuation, Brady’s team finally presented a new proposal.
In these revised terms, Brady will have a 7% stake, while Wagner will acquire the remaining 3%. The deal is pending final approval, expected to happen at the NFL Annual League Meeting in Orlando from March 24-27. Despite only securing a minority stake, the 7-time Super Bowl winner is prohibited from owning stakes in more than one NFL team. However, this rule doesn’t prevent him from acquiring stakes in other major teams across different leagues, such as the NBA, NHL, MLB, and others, as allowed by the NFL.
The Raiders aren’t the only sporting franchise he has invested in his career, especially post-retirement. Brady has previously taken up stakes in different teams in various sports leagues.
