Tom Brady has another new role in the NFL: owner.
The seven-time Super Bowl champion purchased a minority stake in the Las Vegas Raiders, a deal unanimously approved by NFL team owners on Tuesday at the league’s annual fall meeting.
In a lengthy statement on X, Brady said he was “incredibly humbled and excited” to receive approval.
“I’m eager to contribute to the organization in any way I can, honoring the Raiders’ rich tradition while finding every possible opportunity to improve our offering to fans… and most importantly, WIN football games,” Brady posted.
Brady also thanked Raiders majority owner Mark Davis, NFL Commissioner Roger Goodell and others.
“It’s an exciting day for the Raider organization,” Davis said. “Although Tom can’t play, I think he can help us select a quarterback in the future and potentially train him as well.”
Brady, who played 23 seasons with the Patriots and Buccaneers, takes 5% control of the Raiders. He needed to receive 24 of 32 votes. The 47-year-old Brady can’t come of out retirement and play again unless he sells his stake in the team.
“It’s great that Tom Brady wants to invest in the NFL,” Goodell said. “He cares deeply about this game. He believes in its future and I think that’s just a signal of that.”
The deal was initially agreed upon in May 2023, but it took owners 17 months to give their approval over concerns Brady was receiving too much of a discount from Davis. Brady’s new job as a broadcaster with Fox also was an issue because it could represent a conflict of interest.
“There were a lot of things from a structural and due diligence standpoint that had to happen, which is why it took so long for it to be approved and we finally got all that put to bed,” Chiefs owner Clark Hunt said.
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