NFL halts Tom Brady’s sweetheart deal worth hundreds of millions of dollars

Tom Brady’s sweetheart deal to become a minority owner of the Las Vegas Raiders has been put on hold.

Both men’s stances changed after Raiders owner Mark Davis tried and failed to return Brady to the team in February. Instead, the legendary quarterback and billionaire with the distinctive haircut agreed to give Brady 5-10 percent ownership of the team at a discount in May.

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This gives NFL owners pause because it would set a precedent for future deals of this nature. Now, nearly six months later, the league that must approve the deal is delaying doing so.

Did they allow a crucial opportunity for a vote at this week’s owners meeting – or were they never planning to approve the deal in the first place? That’s what Colts owner Jim Irsay, a member of the finance committee needed to approve Brady, hinted at Wednesday.

“No, we never discussed that,” Irsay said, via Jori Epstein of Yahoo.com. “The number has to be a reasonable figure for the purchase price.”

The Washington Post reports that bosses may not vote on the deal at the Oct. 5 meeting. The NFL’s approval process for the proposed stake deal has reportedly been stalled “at least in part” due to concerns raised by the league’s finance committee over the discounted price offered to Brady by Raiders principal owner Mark Davis. “

As a result, the deal remains stalled and no progress is expected in the near term.

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Manuel Gomez contact information: mgomez@njadvancemedia.com.