Seven-time Super Bowl champion Tom Brady’s minority stake in the Las Vegas Raiders was approved by league owners, the former NFL quarterback announced Tuesday.
In a statement released on X, Brady said he was “incredibly humbled” and “excited” to join the Raiders and be unanimously approved by other owners.
Brady purchased 10% of the Raiders, alongside businessman Tom Wagner, from owner Mark Davis, with Brady’s personal stake worth 5%.
The approval ends any chance of a comeback as a player.
The 47-year-old, who’s currently in his first year as a broadcaster for Fox Sports, will not be allowed in another team’s facility or practice field or attend broadcast production meetings due to his status as a team owner. He also could be fined for publicly criticizing game officials and other clubs.
He’ll now have to follow the NFL’s gambling policy and anti-tampering rules.
Brady agreed to terms with Davis on minority ownership in May 2023, though the approval reportedly stalled initially due to concerns about the price he was offered and his broadcasting gig. His bid had to pass through the league’s finance committee and a vote by other NFL owners before becoming official.
“Although Tom can’t play, I think he can help us select a quarterback in the future and potentially train him as well,” Davis said, according to Mark Maske of the Washington Post. “So, it’s a huge benefit for the organization.”
His former teammate Richard Seymour also acquired a minority stake in the Raiders on Tuesday.
“I’m deeply grateful, humbled, and honored to become a NFL owner,” Seymour said on X. “This is the mission of a lifetime, and I accept it with both purpose and pride. With great opportunity comes great responsibility. And I pledge to be a worthy steward of our game and all it makes possible.”
Brady ended his 23-year playing career following the 2022 campaign. The legendary quarterback won six Super Bowl titles with the New England Patriots and another Lombardi Trophy with the Tampa Bay Buccaneers.
