As Tom Brady begins his long-awaited first season as a commentator for Fox on Sunday, the seven-time Super Bowl-winning quarterback is also nearing the finalization of his limited ownership stake in the Las Vegas Raiders.
Brady's proposal for 10% team stock “progressing toward approval” NFL Network's Ian Rapoport reports. It is expected to be completed on Sunday and “by the end of the 2024 season.”
Brady, 47, took last year off following a 23-year playing career with the Patriots and Buccaneers, but will make his regular-season broadcast debut on Sunday in Week 1's Cowboys-Browns game.
According to a report from the NFL Network, approval for Brady to become a limited partner with the Raiders could be voted on by the league's owners “as early as October,” but approval could also be withheld until a labor seminar and special league meeting in December.
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The matter is currently under review by the NFL's Finance Committee.
Brady had initially expected the deal to be approved in May of last year, but the finance committee decided the market value of the franchise meant it needed to increase its investment.
NFL Commissioner Roger Goodell said in March that the league would go through a “very thorough process for all initial moves,” but added that the process was “ongoing.”
Once the process moves to an ownership vote, Brady will need to receive 75 percent of the vote to be approved.
Concerns about Brady's on-air role and potential conflicts of interest were also addressed, according to the report.
As a limited partner, he will be restricted from going inside other teams' facilities, watching practices or participating in production meetings.
Brady will also be barred from publicly criticising umpires and could be fined if his analysis goes too far in that regard.
