It was noted this past spring that NFL legend Tom Brady was nearing a deal to purchase a minority stake in the Las Vegas Raiders from embattled owner Mark Davis.
As recently as May, it seemed like this was a done deal with the seven-time Super Bowl champion quarterback having his proposed purchase submitted to the NFL by Davis and the Raiders.
Fast forward several months, and we’re not too sure.
According to Mark Maske and Nicki Jhabvala of The Washington Post, the process leading to Brady owning a minority stake in the Raiders has stalled due to the NFL being concerned over a discounted purchase price.
“The NFL’s approval process for Tom Brady’s proposed deal to purchase a minority ownership stake in the Las Vegas Raiders has stalled, at least in part because of concerns by the league’s finance committee about the discounted price Raiders principal owner Mark Davis is offering Brady, according to three people familiar with the deliberations over the prospective transaction.”
Report on Tom Brady’s pending Las Vegas Raiders purchase
The report indicates that Davis is selling between 5-10% of the Raiders to Brady with the discount being as much as 70%. That’s not going to sit well with NFL owners, 24 out of 32 of which would have to vote in favor of the sale in order for it to be approved.
According to Forbes, the Raiders are said to be worth $6.2 billion. Ten percent of that would come in at $620 million. Brady himself is said to be worth $520 million. That’s just some background here.
“Davis did not immediately respond to a request to comment, and Brady was not available to comment. The NFL declined to comment,” The Post’s report on Tom Brady and the Las Vegas Raiders.
Owners are not expected to ratify the purchase at their meeting scheduled for next month in New York.
All of this comes the same week that Brady’s purchase in a minority share of the WNBA’s Las Vegas Aces — also owned by Mark Davis — was approved by that league.