Tom Brady’s bid to own a stake in the Raiders is likely to remain on hold
The owners on the NFL’s finance committee previously raised issues related to economic aspects of the proposed deal. In addition, some owners have concerns about conflicts of interest arising from Brady holding an ownership stake in the Raiders while serving as an analyst on broadcasts of NFL games for Fox, according to one of the people with knowledge of the deliberations and two others familiar with the owners’ views.
Brady’s ownership deal must be approved by at least 24 of the 32 owners. The owners generally follow the recommendation of the finance committee.
“The matter remains under review by the finance committee,” NFL spokesman Brian McCarthy said Tuesday.
Brady’s discussions with the Raiders have been taking place for at least 10 months, and one person familiar with the matter said recently that it might be “about time to fish or cut bait.” After next week’s gathering in Orlando, the owners’ next meeting is scheduled for May in Nashville.
Brady and Tom Wagner, the co-founder of Knighthead Capital Management, are believed to be attempting to purchase approximately 10 percent of the Raiders. The franchise is worth an estimated $6.2 billion, according to last year’s NFL team valuations by Forbes.
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Minority ownership shares of a sports franchise typically are sold at a discount from the applicable percentage of the team’s full value, given that limited partners usually have little to no say over major operational decisions. Even so, the finance committee raised concerns last year about the discounted price that Davis was offering Brady, three people familiar with the deliberations over the transaction said then.
