Former quarterback Tom Brady is on track to be the NFL's next minority owner as a member of the Las Vegas Raiders ownership group.
ESPN's Adam Schefter reported the news on Saturday, October 12.
"The NFL's finance committee has reviewed Brady's bid and plans to bring it to the other owners to vote, with 24 of the league's 32 owners needed to approve it," Schefter wrote. "But as one source told ESPN, the committee would not be bringing Brady's bid to the owners to vote if it were not going to get approved, which now appears to be a formality."
When the deal goes through, Brady will own roughly 10% of the Las Vegas-based franchise, which has also called the cities of Los Angeles and Oakland home during its history.
NFL legend Tom Brady.
Jeff Lange / USA TODAY NETWORK
Raiders owner Mark Davis and Brady reached an agreement for the former QB and current Fox Sports color commentator to join the ownership group in May of last year at a discounted price.
Some around the league were concerned about the precedent that type of deal might set moving forward, which caused skepticism about whether the finance committee would ultimately approve the transaction between Brady and the franchise.
Brady began his work with Fox this year after inking a 10-year, $375 million deal to step into the broadcast booth -- a job he'd never done before the 2024 season.
And while Brady won't necessarily have to step out of that job when he officially becomes an NFL owner, it will create limits on what he can do in his capacity as a broadcaster.
For example, Brady can not attend production meetings with any of the league's 31 other member franchises, nor can he criticize NFL officiating during a broadcast.
