Tom Brady’s plan to acquire a minority ownership stake in the Las Vegas Raiders has hit a snag, according to recent reports.
In May, it was initially reported that Brady was engaged in discussions to become a part owner of the Raiders, and in June, the iconic quarterback publicly explained his interest in investing in the team.
However, a new report has revealed a potential hurdle in the process. According to Mark Maske and Nicki Jhabvala of The Washington Post, the price at which Brady is set to purchase his stake in the Raiders has raised concerns among fellow NFL owners.
It appears that Brady’s agreement to acquire a portion of the team came with a substantial discount. It is understood that Brady intends to secure a 5-10 percent ownership stake, and the report suggests that Raiders’ owner Mark Davis may be offering Brady a discount of up to 70 percent.
While NFL owners are open to the idea of Brady becoming a part owner of the Raiders, they may be seeking adjustments to the terms of the deal.
Additionally, Brady may face another challenge due to a rule passed by NFL owners during the summer. This rule stipulates that team employees can only purchase ownership stakes if they are family members. Davis might have had intentions to employ Brady within the team, which could complicate matters.
Notably, Brady has already received approval to become a part owner of the WNBA’s Las Vegas Aces, a team also owned by Mark Davis.