Tom Brady retired from the league a season ago and will be looking to start the next phase of his career as an analyst for FOX, having signed a massive 10-year, $375 million deal. However, his hope to become a part-owner of an NFL franchise hit a roadblock as other owners are stalling the process of him taking on an ownership role.
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According to a report by Reuters, The Raiders’ owner, Mark Davis, was willing to part with a 10% stake in his $6.2 billion franchise for only $175 million as opposed to what it should cost — $525 million. However, after complaints from other owners about the discount and valuation, Brady’s team submitted a new proposal. He partnered with Knighthead Capital’s co-founder Tom Wagner, and under revised terms, Brady will get a 7% stake, while Wagner will acquire the remaining 3%.
The new proposal was expected to be approved at the NFL Annual League Meeting in Orlando between March 24 to 27 but it looks like he might have to wait a bit longer as it seems the owners are not seeing past the big discount. NFL Commissioner Roger Goodell recently spoke about the progress on this front. He stated that it was not a delay but a part of a longer process that the league takes on every time someone applies for new ownership. They have been in touch with Brady and Davis, and they are making progress. Goodell said,
“I wouldn’t say it’s a delay. We go through a very thorough process on all ownership transfers so we are just going through that process. We’ve been in touch with their side and the Raiders and I think it’s making progress.”
The CBS NFL journalist on the Pick Six podcast speculates that the delay is probably because the owners want them to increase their offer but also feels one factor that has proved a hindrance in this process is Brady’s new job with FOX, which they believe gives him an added advantage as an owner.
Tom Brady’s FOX Deal Could Also Be a Hindrance
Brady’s quest to become an owner has hit a snag, and many believe his $375 million deal with the media giants could be a big factor in this delay. John Breech, on the Pick Six podcast, stated that while the league and the owners won’t be candid about the 7-time Super Bowl winner’s new career with FOX, he believes it still bugs them enough to stall the deal.
Brady, as a broadcaster, would take an active role in which he would be visiting the locker rooms to talk about personnel and strategy which might be an uneasy thing to swallow for other owners. Owners might feel he shouldn’t be in a position to broadcast NFL games and be the owner of a franchise at the same time. Coaches might feel he is going to steal their secrets. He said,
” I do think the other interesting thing here is the Fox thing. Look they can say publicly it doesn’t matter but if Tom Brady is calling your game, he goes into your locker room, he’s talking to your guys about personnel, strategy, he’s talking to the head coach, that would worry me a little bit if I am the owner approving him as the owner.”
While the owners discuss whether the 3-time MVP should get a minority stake, Tom Brady might be looking forward to preparing himself for his new role as a broadcaster. The NFL fans will be delighted to see him back in the NFL albeit in a suit this time around. There is a buzz surrounding him and FOX will surely benefit from this partnership.
