Tom Brady will always be lauded as an iconic figure in the NFL. Nearly one year is going to be over since the quarterback decided to hang up his cleats, but the NFL fans are still waiting to witness another glimpse of their favorite star.
Though Brady is very unlikely to think of un-retiring for a second time, he has made sure to remain close to sports enthusiasts by venturing into the ownership world of multiple sports teams. While his entry into other sports as an owner didn’t witness much adversity, his potential acquisition of an NFL team has been lingering due to a series of problems.
Brady’s bid to join Raiders ownership yet to clear hurdles
Speculation and anticipation have run high since the news broke of Tom Brady’s intention to acquire a significant ownership stake in the Las Vegas Raiders. TB12, along with majority owner Mark Davis, worked towards sealing the deal, albeit the deal has been clouded by uncertainty and unresolved approvals.
The California Cool’s proposed acquisition of approximately 10 percent of the team has encountered repeated hurdles on the path to approval by the league. Despite his iconic status and Davis’ alignment with the deal, the NFL has yet to greenlight the purchase.
Rumors circulated that a crucial board meeting on December 13 would shed light on the situation. However, according to Mark Maske of the Washington Post, the topic of the QB’s ownership did not surface during the discussions. Nevertheless, hope persists as the potential deal hasn’t met its demise.
The backdrop of this drama took a turn with the Raiders’ recent experiment with “The Patriot Way,” employing head coach Josh McDaniels and general manager Dave Ziegler. Unfortunately, their tenure proved short-lived, as both of them were fired recently.
Amid swirling speculations about Bill Belichick’s potential acquisition by the Raiders, the anticipation of witnessing a Bill-Brady dynasty in Las Vegas remained uncertain. However, the prolonged approval process of Brady’s ownership left fans in suspense regarding the legendary quarterback’s potential entry into the franchise’s front office.
NFL owner pointed to multiple issues with Tom Brady’s Raiders stake
While Tom Brady had initially ventured into ownership with Davis’s WNBA team, the Las Vegas Aces, the transition to a role in the NFL faced significant hurdles. At the core of the issue lies the marked difference between the market value of the shares and the price at which they were offered to him.
Davis reportedly offered Brady a 10% share, valued at approximately $6 billion by Forbes, for a mere $445 million. This substantial discount raised red flags within the league, and triggered a pause in the deal. NFL owners are deeply invested in maintaining the equitable valuation of all franchises due to the fear of undervaluing stakes.
The NFL operates under a different ethos compared to standard business practices. While business owners typically have the autonomy to sell their ventures at prices they deem fit, the league’s owners maintain a collective interest in upholding the value of their respective teams. Selling shares at a substantial markdown, especially to a high-profile figure like Brady, could potentially diminish the value of other franchises.
“It’s got a lot of problems,” the Indianapolis Colts owner Jim Irsay told SI of the deal.
Irsay earlier discussed the importance of a reasonable purchase price by hinting at the potential repercussions of Brady acquiring 5–10% of the Raiders for a fraction of its actual value.
Besides that, Tom Brady’s engagement with other sports entities, including the Las Vegas Aces and Birmingham City, has been a point of discussion. The quasi-ceremonial nature of these partnerships and the perceived steep discounts offered further fueled the league’s reluctance to endorse Brady’s ownership stake in the NFL.
