As Tom Brady embarks on his highly anticipated first season as a Fox analyst on Sunday, the seven-time Super Bowl-winning quarterback also is moving closer to finalizing a limited ownership stake in the Las Vegas Raiders.
Brady’s bid to own 10 percent of the team “is on its way to approval,” NFL Network’s Ian Rapoport reported Sunday, and should be completed “by the time the 2024 season concludes.”
After taking last year off upon the conclusion of his 23-year playing career with the Patriots and the Buccaneers, the 47-year-old Brady will make his regular-season broadcasting debut during Sunday’s Week 1 clash between the Cowboys and the Browns.
Brady’s approval to become a limited partner in the Raiders could be voted on by league ownership “as early as October,” NFL Network reported, but it also could be held for approval until the December labor seminar and Special League Meeting.
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The matter presently remains under review by the NFL’s finance committee.
Brady originally had hoped to be approved in May of last year, but the finance committee determined that the market valuation of the franchise would necessitate increasing the amount of his investment.
In March, NFL commissioner Roger Goodell said the league undergoes “a very thorough process on all initial transfers,” but added that the process was “progressing.”
Once the process moves on to an ownership vote, Brady will need to receive 75 percent of the vote for approval.
Concerns over Brady’s broadcasting role and potential conflicts of interest also have been addressed, the report stated.
As a limited partner, he will be restricted from being inside another team’s facility and watching practice or taking part in production meetings.
Brady also will be restricted from publicly criticizing officials and could face fines if his analysis goes too far in that regard.
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