The National Football League owners officially approved Tom Brady as a minority owner of the Las Vegas Raiders on Tuesday. This move solidifies Brady’s position as a key player in the business side of football.
Teaming up with his business partner, Knighthead Capital founder Tom Wagner, Brady acquired approximately 10% ownership stake in the Raiders. The deal was sealed at an impressive $3.5 billion valuation, with an equity investment totaling around $220 million.
In addition to their initial investment, Brady and Wagner also had to pay a 10% “flip tax,” showcasing their commitment to the partnership and the league as a whole.
Former NFL player Richard Seymour also made headlines by purchasing a less than 1% stake in the Raiders at the same valuation. This further demonstrates the allure of investing in one of football’s most iconic franchises.
The unanimous approval from all 32 team owners during the league meeting in Atlanta speaks volumes about Brady’s reputation and influence within NFL circles. Despite not being present at the meeting, his impact was clearly felt throughout this groundbreaking transaction.
2024-10-15 16:57:34
Original article from CNBC
