Fox News Flash top sports headlines for October 4
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Tom Brady’s purchase of a minority stake in the Las Vegas Raiders has raised concerns among NFL owners.
Owners are "not expected to ratify" Brady’s minority ownership in the Raiders during meetings Oct. 17-18 in New York City over concerns about the price at which Mark Davis, the franchise’s majority owner" is selling it at, per The Washington Post.
The report cites a source saying Brady, who would be purchasing 5-10% of the franchise, wouldn’t be approved by the league’s finance committee at the price, which is considered a discount of up to 70%.
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Mark Davis of the Las Vegas Raiders before a game against the Los Angeles Chargers at SoFi Stadium Oct. 1, 2023, in Inglewood, Calif. (Harry How/Getty Images)
The source added that the purchase "can’t happen at that price."
It’s unclear if Brady would want to increase his bid for the minority stake to appease the finance committee. However, with Raiders ownership wanting Brady to own a part of the franchise, perhaps "there’s a compromise" possible.
Forbes’ most recent valuation of the Raiders has them at $6.2 billion. Brady needs 24 of the 32 NFL owners to sign off on the move before it can be locked in by the league.
TOM BRADY SET TO BECOME MINORITY OWNER OF RAIDERS, MARK DAVIS SAYS
Davis told ESPN in May that Brady was expected to purchase a minority stake in the franchise.
"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," Davis said in a statement.
The report from ESPN at the time said Brady wouldn’t have any "operational control or authority over the club in business or football matters" if he officially joined as an owner.
Tom Brady's stake in the Raiders is held up. (Gilbert Flores)
Brady was already making his presence known this year. He was in the Raiders' locker room ahead of a preseason matchup against the Dallas Cowboys talking to his former backup quarterback, Jimmy Garoppolo, who now starts for Las Vegas.
Brady also bought a stake in the Las Vegas Aces, the 2022 WNBA champions, in March.
Brady has been wanting to get into NFL ownership, and he reportedly attempted to purchase a minority stake in the Miami Dolphins in 2021 when he initially retired from the Tampa Bay Buccaneers before second-guessing that decision.
The Dolphins were eventually punished by the league for engaging in communications they weren’t allowed to have with Brady because he was still under contract with the Buccaneers.
Tom Brady (Gilbert Flores/Variety)
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He retired from the NFL "for good" after losing to the Dallas Cowboys in the playoffs.