Tom Brady Joins Ownership Group of Las Vegas Raiders

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