Many NFL fans are yet to heal from the huge blow of not being able to witness Tom Brady in the upcoming season following his second-time retirement in February this year. Meanwhile, Brady has been busy applying his business acumen besides spending quality time with his three kids.
The New England Patriots former legend was rumored to become a minority owner of the Las Vegas Raiders. The 45-year-old veteran once started a prolonged nightmare for the Raiders’ fan’s after snatching victory over Las Vegas following a controversial ‘tuck rule’. This time he was apparently on his way to winning their hearts, albeit the procedure became quite complicated due to the NFL’s new rule.
Brady’s plans to purchase a stake in Raiders face obstacle
A special meeting was held last week to approve the Washington Commanders’ sale from Daniel Snyder to the Josh Harris group. However, the NFL used the opportunity to impose a new rule to prohibit players or other team employees who aren’t family members from being able to have equity in a franchise.
The league cited eight reasons for implementing the rule which include,
“Potential salary-cap complications to the potential depression of franchise value when an employee leaves the team for another club and must dispose of the equity quickly to a club employee who leaves under bad terms suing over the value of the interest to former employees with equity potentially becoming blabbermouths about club secrets to employees not being subject to capital calls like other limited partners to other issues aimed quite simply at protecting team owners from themselves.”
However, the Raiders owner Mark Davis vehemently opposed to the new rule during the meeting saying he had already agreed to employ TB12 in the recent deal for the former football star to own a stake in the franchise, albeit the rule still passed.
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Now, if the seven-time Super Bowl champion wants to be a minority owner of the Raiders, he cannot be employed by the team in any capacity as well as he would not be able to work in an official front-office role or play for the Raiders. Except for the last condition, the other terms might come in the way of Brady’s potential agreement with Davis.
Mark Davis and Tom Brady agree on minority ownership bid
According to Adam Schefter, Davis and Brady decided to join hands to buy the Las Vegas-based franchise earlier this year. The team’s owner submitted their request to the NFL and was waiting for the league’s approval for the contract to be finalized,
“We have come to an agreement for Tom Brady to become a partner in the Raiders, and we have submitted it to the NFL for approval. We’re excited for Tom to join the Raiders.”
Raiders’ owner Mark Davis told ESPN’s @PGutierrezESPN: “We have come to an agreement for Tom Brady to become a partner in the Raiders and we have submitted it to the NFL for approval. We’re excited for Tom to join the Raiders.”
More coming soon on https://t.co/rDZaVFhKto.
— Adam Schefter (@AdamSchefter) May 22, 2023
The California Cool earned his first ownership feat from Mark after purchasing the reigning WNBA champions Las Vegas Aces. The former NFL star was also rumored to have had a discussion about becoming a limited partner with the Miami Dolphins before his retirement, albeit it didn’t become successful, and instead, the team was docked a first-round draft pick for violating the league’s anti-tampering policies.
What’s your take on Brady‘s back-to-back business moves? Tell us in the comment box.
