An upcoming meeting of NFL owners on Oct. 17 and 18 could get spicy. According to the Washington Post, Tom Brady's attempt to purchase a minority ownership stake in the Las Vegas Raiders could hit an unexpected snag.
Brady is attempting to purchase 5-to-10 percent equity in the Raiders from owner Mark Davis. For months now, Brady's transition into Vegas ownership felt like a foregone conclusion. It was widely accepted as fact; Brady even appeared at a Raiders preseason game.
Complications have since come to the surface, however, and NFL owners are no longer expected to ratify Brady's purchase at this month's meeting. There will be future meetings — the next one coming in December — but there's a chance this saga drags out.
Tom Brady's purchase of Raiders ownership stake stalls
One key area of contention is the price, with Brady believed to be receiving "a discount of as much as approximately 70 percent" from Davis. It would appear Davis also hoped to use employment of Brady as a means to subsidize the equity he is giving up at such a discounted rate. NFL owners are not allowed to sell minority stakes to team employees.
Brady's pending deal with FOX Sports was cited as an "additional concern," but that doesn't appear to be the driving force behind the looming controversy of this month's vote. If Brady doesn't get approved, he will have to wait several months for another opportunity and there's a chance the entire deal crumbles. We are not privy to the internal conversations between Brady and the Raiders, but it does sound like the entire deal structure is liable to collapse.
There's no secret as to why Mark Davis wants to have Brady involved in the Raiders organization. He's a one-man recruit magnet. Brady is probably the most respected NFL player of a generation. He will draw others to the team and lend credibility to the organization that has been starkly lacking in recent years.
Brady was once rumored to be interested in purchasing a minority stake in the Dolphins before his infamous un-retirement in 2022. This isn't his first rodeo with prospective ownership complications, but it's fair to start doubting Brady's future as an NFL owner. Maybe he's destined to remain affiliated with the field, not the front office.
