It’s official: Tom Brady’s playing career is finally over.
Brady’s bid to become a minority owner of the Las Vegas Raiders was approved on Tuesday at the league’s fall owners’ meeting in Atlanta, meaning any rumours of him wanting to return to playing can officially be put to bed.
Brady, who played 23 seasons with the Patriots and Buccaneers, takes 5 per cent control of the Raiders. He needed to receive 24 of 32 votes. The 47-year-old Brady can’t come of out retirement and play football again unless he sells his stake in the team.
Brady’s bid had reportedly been reviewed by the NFL’s finance committee and was brought to a vote in Atlanta during the owners’ meeting.
According to Schefter, the committee didn’t plan on bringing the bid to a vote if there was going to be doubt about its approval. Meaning, Brady and business partner Tom Wagner are seemingly days away from owning about 10 per cent of the Raiders, following the formalities on Tuesday.
The deal was initially agreed upon in May 2023, but it took owners 17 months to give their approval over concerns Brady was receiving too much of a discount from Raiders majority owner Mark Davis. Brady’s new job as a broadcaster with Fox also was an issue because it could represent a conflict of interest.
The NFL placed restrictions on Brady before the season to limit his access. He is not permitted to attend production meetings in person or virtually and may not have access to team facilities or players and coaching personnel. Brady may broadcast Raiders games. He also has to abide by the league constitution and bylaws that prohibit public criticism of officials and other clubs.
“We’re excited for Tom to join the Raiders,” Davis told ESPN, when the initial agreement was reached. “And it’s exciting because he will be just the third player in the history of the National Football League to become an owner.”
This deal marks the second time that Brady and David have sat down at the negotiating table, as the former QB purchased a minority stake in the WNBA’s Las Vegas Aces in March 2023.
Pro Football Hall of Famer Richard Seymour, who played with Brady in New England, also received approval Tuesday to purchase a minority stake in the Raiders.
Brady and Seymour are the third and fourth former NFL players to become owners after George Halas Sr. and Jerry Richardson.
Brady is still in the midst of a 10-year, $375-million contract with Fox as a broadcast analyst that began with the 2024-25 season.
The 47-year-old will become one of the highest-profile former athletes to own part of a team, joining Michael Jordan (Charlotte Hornets), Magic Johnson (Los Angeles Dodgers, Washington Commanders), Alex Rodriguez (Minnesota Twins) and Patrick Mahomes (Kansas City Royals).
“I’m eager to contribute to the organization in any way I can, honouring the Raiders’ rich tradition while finding every possible opportunity to improve our offering to fans… and more importantly, WIN football games,” said Brady in a statement shared on social media.
The Raiders haven’t won a Super Bowl since capturing their third title in eight years following the 1983 season. They won their first two championships in Oakland and the last one in Los Angeles. They moved to Las Vegas in 2020 and haven’t won a playoff game since losing the Super Bowl to Tampa Bay on Jan. 26, 2003.
— With files from the Associated Press