Tom Brady, potentially the greatest player in NFL history, could be on the brink of becoming an NFL owner, following an agreement last year with co-founder of Knighthead Capital Management Tom Wagner and Las Vegas Raiders owner Mark Davis to acquire a stake in the franchise. The league’s financial committee will assess Brady’s bid ahead of a possible vote at the upcoming NFL’s owners’ meeting in Atlanta. Brady and Wagner might not have to pay a full 10% of the Raider’s estimated $7.8 billion value. They would, however, need to pay in cash or secure a loan.
Brady entered a TV broadcasting role with Fox following his playing career, which has led to certain restrictions from the NFL. These limitations include restrictions on Brady’s access to other teams’ facilities and practices and his inability to publicly criticize teams, officials, or enterprises. Brady also has a connection with Raiders owner Mark Davis, which dates back to 2020 when Brady was captured conversing with Davis while attending UFC 246. At the time, rumors circulated that Brady might sign with the Raiders as he was set to become an unrestricted free agent that March, further fueling his relationship with Davis.
The strengthening connection between Brady and Davis continued when the pair met at a Las Vegas Aces game in May 2022. Brady showed admiration for what the Aces were building under Davis’s ownership, followed by his representatives approaching Davis in anticipation of buying a minority stake in the Aces. In March 2023, Brady’s ownership of the Aces was announced, with the percentage of his stake and the amount paid undisclosed. In May 2023, an agreement was made for Brady to purchase a minority stake in the Raiders, pending NFL approval.
Why did Brady choose to invest in the Raiders instead of the Patriots, Buccaneers, or his hometown 49ers? Brady’s existing relationship with Davis likely played a significant role. Additionally, the owners of these three other franchises may not have been willing to sell a part of their stake. Furthermore, the Raiders are worth more than the Buccaneers and 49ers, according to CNBC, and generated more revenue last year than any of these three franchises. Brady and Wagner’s percent stake purchase won’t grant them control of the Raiders because their position is under the NFL’s 30% threshold.
The Davis family—Mark and his mother, Carol—holds a 47% stake in the Raiders, remaining the principal owners if Brady and Wagner’s 40% bid is approved. The Raiders franchise also lists six other interest holders: A. Boscacci, Jill Boscacci Lovingfoss, First Football, Winkenbach Family, Fox Football, and Sargent Family. However, NFL rules prevent Brady from returning to play as a part-owner.
Mark Davis, 69, and Carol Davis are the primary owners of the Raiders but have no immediate heirs. If they pass away while still owning shares, their stakes could be sold or given to another family member. Brady might then be allowed to purchase more stakes, but he would have to surpass the 30% threshold, aside from owning more stakes than the Davis family, to become the controlling owner. There could be other possible suitors for the Davis’s stakes if sold.
