It appears as if no progress has been made in Tom Brady’s attempt to purchase a minority stake in the Raiders — and we are learning a lot more about why.
The Washington Post reported earlier this month that “concerns” had arisen over Brady getting what was deemed to be a steep discount on a 5-10 percent stake in the franchise from team owner Mark Davis, and indications were the league’s finance committee would not approve the sale at owners’ meetings that took place in New York this week.
But Brady’s status didn’t end up on the docket.
Colts owner and NFL finance committee member Jim Irsay revealed the massive discount that Brady and Davis had apparently agreed to.
“If reasonable value says . . . that 10 percent should be $525 million, you can’t pay $175 million,” Irsay said, according to the Boston Globe.
NFL owners are dragging their feet about allowing Raiders owner Mark Davis to sell Tom Brady a minority stake in the team at a steep discount to market value. NBAE via Getty ImagesThe Washington Post had previously reported that Davis intended to give Brady a discount of up to 70 percent compared to market value, with a source reiterating that it “can’t happen at that price.”
ProFootballTalk founder Mike Florio explained why NFL owners would drag their feet on this deal.
“Owners have a very strong interest in maximizing the value of all equity in every franchise. If Brady buys 5-10 percent of the Raiders for relative peanuts, that becomes a potential impediment when some other owner tries to sell a piece of his or her franchise,” Florio wrote.
Patriots President Jonathan Kraft, New England Patriots owner Robert Kraft clap as former New England Patriots quarterback Tom Brady celebrates during a ceremony honoring Brady at halftime of New England’s game against the Philadelphia Eagles at Gillette Stadium on September 10, 2023. Getty ImagesPrevious reporting indicated there could be some wiggle room in the price required to get Brady into the fold, considering his pedigree as an NFL legend who won seven Super Bowls in his playing career, but it doesn’t appear as though there has been much progress in the last two weeks in bridging the gap.
Brady was able to partner with Davis for a minority stake in the WNBA’s Las Vegas Aces, who defeated the Liberty, 70-69, Wednesday night to win their second consecutive league championship.
