The Las Vegas Raiders have officially welcomed two NFL legends, Tom Brady and Richard Seymour, as minority owners. The move was confirmed after NFL owners approved the sale at the league’s fall owners’ meetings. The sale also included businessman Tom Wagner, co-founder of Knighthead Capital Management, who acquired a significant stake in the franchise.
Ownership Details and Stakes
- Mark Davis, Raiders owner, sold 10.5% of the franchise.
- Brady and Wagner each purchased around 5%.
- Seymour acquired approximately 0.5%.
- Purchase prices for the respective shares have not been disclosed.
Tom Brady expressed his excitement in a statement, saying:
“I’m incredibly humbled and excited to have been unanimously approved as an owner of the Las Vegas Raiders. Football is about teamwork, resilience, and a relentless pursuit of excellence. The Raiders embody these values, and I’m honored to be part of this legacy.”
NFL’s Reaction and League Approval
NFL Commissioner Roger Goodell praised Brady’s involvement in ownership, stating:
“It’s great that Tom Brady wants to invest in the NFL. He cares deeply about the game and believes in its future.”
The approval of these minority owners is not just financially driven. Mark Davis highlighted the football expertise that both Brady and Seymour bring to the Raiders, stating that the decision is about adding long-term value to the organization.
Brady’s Future Role with the Raiders
Brady’s new role in the Raiders franchise could extend beyond ownership. Davis hinted that Brady’s deep football knowledge could help with future decision-making, particularly in quarterback selection and development.
“Although Tom can’t play, I think he can help us select a quarterback in the future and potentially train him,” said Davis.
However, NFL rules prevent Brady from holding any title other than “limited partner” unless he becomes the controlling owner.
NFL Ownership Rules and Restrictions
While Brady and Seymour are minority owners, they won’t have formal decision-making power beyond their financial investments. Brady will continue as a game analyst for Fox Sports. The league has placed restrictions on Brady, ensuring he has no undue influence on teams outside of the Raiders. This includes no access to other teams’ facilities and practices or participation in production meetings with coaches and players ahead of games.
The Future of Raiders Ownership
Despite selling part of the franchise, Mark Davis remains the Raiders’ controlling owner, with the authority over major franchise decisions. Davis can retain his control with as little as 1% ownership, under current NFL rules for long-standing owners.
Brady and Seymour’s involvement brings fresh perspectives to a team that has struggled to return to playoff form. With their football acumen, Davis hopes to leverage their expertise as the Raiders work to rebuild and reclaim their competitive edge.