Price dispute stalls Brady’s bid for Raiders Equity

Price dispute stalls Brady’s bid for Raiders Equity

The NFL Finance Committee is reportedly concerned about the discounted price Brady received for his minority stake in the Raiders.

A vote to approve the deal is unlikely at the owners meeting later this month.

Tom Brady’s purchase of a minority stake in the Las Vegas Raiders hasn’t progressed much since it was announced in May – and it doesn’t look like it will be approved in the near future.

The NFL Finance Committee balked at the discounted purchase price offered to Brady for a minority stake in the Raiders, The Washington Post reported Thursday. Raiders owner Mark Davis sold Brady 5 to 10 percent of the team. However, Davis can discount the former Patriots star by up to 70%.

The feeling among owners on the finance committee is that it “cannot happen at this price,” the Post reports.

The Raiders are valued by Forbes at $6.2 billion, although as evidenced by the acquisition of the Washington Commanders earlier this year, the teams may be worth more than those estimates. But if Brady agrees to buy a 10% stake in the Raiders at a 70% discount, that would represent a $434 million reduction from the Raiders’ current estimated valuation.

An NFL spokesman declined to comment. A message left for the Raiders was not immediately returned.

The approval process for minority owners is the same as for majority owners, a grueling process that Josh Harris had to navigate to acquire Commanders for a record $6.05 billion.

The NFL reviews ownership claims before making recommendations to the finance committee. There will then be an all-ownership vote, in which at least 24 of the league’s 32 owners must vote in favor.

The issues surrounding Brady’s candidacy are not expected to be resolved until the next meeting of NFL owners, which begins in New York in October. 17, according to the Washington Post.

Brady’s 10-year, $375 million contract with Fox is also said to be another cause for concern. Brady agreed to this broadcast deal in May 2022, although Brady is not expected to be in the booth to call NFL games on Fox until next season at the earliest.

Brady’s minority purchase of another Davis-owned team, the Las Vegas Aces, was approved by the WNBA this week. Brady, who earned about $332 million in salary and bonuses during his NFL career, has also invested in Birmingham City FC, Major League Pickleball’s Las Vegas Night Owls and an E1 Series powerboat racing team.

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