Tom Brady’s Bid To Buy A Stake In The Raiders Has Been Thwarted Due To ‘Discounted Price’
Tom Brady’s purchase of a minority ownership in the Las Vegas Raiders hasn’t progressed much since it was made public in May — and it doesn’t appear that it will be authorized anytime soon.
Tom Brady’s Bid To Buy A Stake In The Raiders Has Been Thwarted Due To ‘Discounted Price’
According to the Washington Post, NFL owners are “not expected to ratify” Brady’s minority ownership position during their meeting on Oct. 17-18 in New York because “concerns” have surfaced regarding Brady receiving the share at a steep discount.
According to the site, a source claimed Brady would be unlikely to be accepted by the league’s finance committee at the current price, and it was unknown whether Brady would be prepared to raise his proposal.
My interview with @JimmyG_10 airs tonight on @NFLTotalAccess on @nflnetwork.
We talk Trey Lance, Dak Prescott, Josh Jacobs, and Raiders owner (?) Tom Brady. pic.twitter.com/lVzI7hSBMc
— Andrew Siciliano (@AndrewSiciliano) August 29, 2023
The NFL finance committee has rejected Brady’s request for a minority stake in the Raiders, according to The Washington Post on Thursday. Mark Davis, the Raiders’ owner, is looking to sell Brady between 5% and 10% of the franchise. Davis, on the other hand, is said to be offering the former Patriots great a discount of up to 70%.
The owners that make up the finance committee believe it “can’t happen at that price,” according to the Post.
BREAKING NEWS: The #NFL's approval process for Tom Brady's proposed purchase of a minority ownership stake in the Las Vegas #Raiders has reached a STOP, per the Post🤯
This is in part due to reservations regarding the 70% price reduction LVR owner Mark Davis is giving Brady and… pic.twitter.com/P0dzJwBvQz
— MLFootball (@_MLFootball) October 5, 2023
The specific financial figure that the league feels the ownership interest is worth has not been published, but according to Forbes’ most recent assessments, the Raiders are worth $6.2 billion in total.
In comparison, the Commanders were recently sold for $6.05 billion to Josh Harris’ firm. Brady’s stake in the Raiders might be in the five to 10 percent range.
Tom Brady’s purchase of between 5-10% of the Las Vegas Raiders was discounted by as much as 70% — now stalling the transaction.
The feeling among the owners who comprise the finance committee is that it “can’t happen at that price."
— Front Office Sports (@FOS) October 5, 2023
According to a source, Brady’s discount might be about 70%.
While this transaction may have to wait until after the forthcoming ownership meeting on October 17-18 until the next meeting on December 12-13, Brady and Davis have already completed another transaction together.
Tom Brady's pre-game advice to Jimmy G and Raiders 😅
(via @NFL) pic.twitter.com/ayLCzcYiBq
— Bleacher Report (@BleacherReport) August 26, 2023
Brady, 46, announced his retirement from the NFL earlier this year after 23 seasons and seven Super Bowl victories.
He’s been emphatic about staying retired, but curiosity over whether he’ll return will certainly continue as long as his contract with the Raiders isn’t finalized.
In addition to his bid for ownership, he has inked a 10-year, $375 million contract to become the primary color commentator on Fox Sports’ NFL coverage.
𝐑𝐞𝐩𝐨𝐫𝐭: The reason Tom Brady's approval for minority ownership stake in the #Raiders has has been delayed is concerns over owner Mark Davis selling Brady between 5-10% at a reduced rate of approximately 70%, via @washingtonpost
The NFL is concerned over the discount.… pic.twitter.com/WQFPrk0yhT
— Dov Kleiman (@NFL_DovKleiman) October 5, 2023
Another Brady’s offer to buy a share in the WNBA’s Las Vegas Aces was accepted by the league on Monday.
This investment in another of Davis’ businesses was also revealed in March.
“I am very excited to be a part of the Las Vegas Aces organization,” Brady said in March.
Tom Brady’s proposed deal to purchase a minority ownership stake in the Las Vegas Raiders has stalled, at least in part because of concerns about the discounted price being offered to Brady, according to three people familiar with the deliberations. https://t.co/1fFIflJ6Wl
— The Washington Post (@washingtonpost) October 5, 2023
FOR MORE SPORTS COVERAGE-
Former Northwestern Head Coach Pat Fitzgerald Is Suing The School For Wrongful Termination