Former NFL star Tom Brady previously announced back in May that he would be purchasing a minority ownership of the Las Vegas Raiders. However, that has yet to be approved by the NFL. And we now know why.
Raiders owner Mark Davis has been adamant about this move eventually coming to fruition. Perhaps too adamant, as he reportedly offered Brady a huge discount in order to try to get him involved with the organization.
According to The Washington Post, Davis may be giving Brady a discount of as much as approximately 70 percent for his proposed minority stake in the team. This has subsequently led to the NFL, particularly the league’s finance committee, stalling the sale from happening.
A person with knowledge of the deliberations stated while talking to The Washington Post that there is “strong sentiment” within the finance committee that the deal “can’t happen at that price”. It would reportedly take a revised deal in order for the potential sale to be approved.
Any sale of an NFL organization has to be ratified by at least 24 of the 32 owners leaguewide. That means that the next opportunity for this deal to potentially be approved by the NFL would likely be at an owner’s meeting scheduled for Oct. 17-18.
Unfortunately for the Raiders and Brady, team owners are not expected to ratify Brady’s deal, according to The Washington Post.
It certainly seems like Brady will need to adjust his offer for this deal to move forward. Even though he isn’t officially a minority owner in the team, he has been hanging around the team in recent months. So it may simply only be a matter of time until he is an owner of the team.
Tom Brady's pre-game advice to Jimmy G and Raiders 😅
(via @NFL) pic.twitter.com/ayLCzcYiBq
— Bleacher Report (@BleacherReport) August 26, 2023
