Tom Brady needs to purchase a part of the Raiders, however NFL homeowners are blocking the deal

Brady is in search of to purchase 10% of the Raiders for $175 million, which might indicate a workforce valuation of $1.75 billion — a major low cost from what NFL groups have lately been bought for, in keeping with a report from the Boston Globe. For instance, the NFL’s Washington Commanders bought for $6 billion in 2023, and the Denver Broncos bought for $4.6 billion in 2022 to a Walmart
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inheritor.

It’s possible that the workforce, which is owned by businessman Mark Davis, would wish to be related to a high athlete like Brady. A lot of high-profile athletes are minority homeowners in groups, together with Formula One’s Lewis Hamilton and the Broncos, basketball star Dwayne Wade and the NBA’s Utah Jazz, and baseball legend Derek Jeter and the MLB’s Miami Marlins.

However, the opposite NFL homeowners have but to approve Brady’s buy, which was first reported to be taking place again in May.

“We’re trying to work through,” Indianapolis Colts proprietor Jim Irsay stated in regards to the proposed deal. “The number just has to be a reasonable number for purchase price for Tom, is the only thing. If reasonable value says that 10% should be $525 million, you can’t pay $175 million.”

With NFL homeowners not set to fulfill once more till Dec. 12, Brady’s potential possession stake shall be on maintain till the tip of the yr.

Representatives for Brady, Davis and the NFL didn’t reply to MarketWatch’s request for remark.

See additionally: Michael Jordan is now price $3 billion. Here’s what billionaire athletes have in frequent.

Davis and Brady do share frequent possession of a workforce in one other sport: the WNBA.

Davis owns the Las Vegas Aces, a WNBA workforce that Brady purchased a minority stake in earlier this month. The Aces clinched their second consecutive WNBA championship on Wednesday over the New York Liberty. Brady and Davis had been seen sitting collectively at one of many Aces video games.

The Raiders, a workforce that moved to Las Vegas from Oakland in 2020, is valued at $6.2 billion, in keeping with Forbes estimates.

Brady, 46, retired because the NFL’s profession chief in passing yards (89,214) and touchdowns (649). His $512 million fortune is made up of $332 million from his NFL checks over 23 seasons, with the remaining coming from his off-field endeavors, together with endorsements with Under Armour
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Ugg, Upper Deck and DraftKings
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Brady additionally has a profitable contract with Fox Sports to announce NFL video games starting in 2024. That deal is a 10-year contract price as much as $375 million, the most important in sports activities broadcasting historical past.

See additionally: Want to observe each NFL recreation this season? Here’s how a lot it would price you.