Tom Brady wants to buy part of Raiders, but NFL owners block deal

According to the Boston Globe, Brady is seeking to acquire a 10% stake in the Raiders for $175 million, which would value the team at $1.75 billion – a significant discount from recent sales prices for NFL teams.For example, the NFL’s Washington Commanders are sold for $6 billion in 2023, and the Denver Broncos are sold to Walmart for $4.6 billion in 2022

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The team, owned by businessman Mark Davis, will likely want to partner with a top athlete like Brady. Many well-known athletes are minority owners in teams, including Formula 1’s Lewis Hamilton and the Broncos, basketball star Dwayne Wade and the NBA’s Utah Jazz, baseball legend Derek Jeter and the American Pro The Miami Marlins of Major League Baseball.

However, other NFL owners have yet to approve Brady’s acquisition, which reportedly took place in May.

“We’re working on it,” Indianapolis Colts owner Jim Irsay said of the proposed trade. “For Tom, that number has to be a reasonable purchase price, that’s the only thing. If at fair value 10 percent should be $525 million, then you can’t pay $175 million.”

With NFL owners not meeting again until Dec. 12, Brady’s potential ownership will be on hold until the end of the year.

Representatives for Brady, Davis and the NFL did not respond to MarketWatch’s requests for comment.

See also: Michael Jordan is now worth $3 billion. Here’s what billionaire athletes have in common.

Davis and Brady do share ownership of a team in another sport: the WNBA.

Davis owns the Las Vegas Aces, a WNBA team in which Brady purchased a minority stake earlier this month. The Aces defeated the New York Liberty on Wednesday to win their second consecutive WNBA championship. Brady and Davis were seen sitting next to each other during an Aces game.

The Raiders, who moved from Oakland to Las Vegas in 2020, were valued at $6.2 billion, Forbes estimated.

Brady, 46, retired as the NFL’s career leader in passing yards (89,214) and touchdowns (649).Of his $512 million fortune, $332 million comes from checks from 23 seasons in the NFL, with the remainder coming from his off-the-field efforts, including endorsement deals with Under Armor

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Brady also signed a lucrative contract with Fox Sports to broadcast NFL games starting in 2024. The contract lasts for 10 years and is worth up to US$375 million, making it the largest contract in the history of sports broadcasting.

See also: Want to watch every NFL game this season? Here’s how much you need to spend.