Updated February 11, 2024 - 1:36 pm
Tom Brady’s purchase of a minority share of the Raiders is on target to be approved by the NFL at the league’s annual meetings in March, a person with knowledge of the situation confirmed Sunday.
A spokesman for the NFL said the “matter remains under review,” but the NFL finance committee is expected to review the details of Brady’s purchase in early March. If everything goes as planned, it will go to the NFL for final approval, most likely at the league’s annual owners meetings in Orlando, Florida, from March 24 to 27.
Brady’s plans to purchase what Sportico reported as a 10 percent stake in the Raiders have been in the works for more than a year. It hit a snag when owners balked at the original selling price that Raiders owner Mark Davis was asking for, but it appears those concerns have been alleviated.
Brady is partnering with Knighthead Capital co-founder Tom Wagner on the Raiders’ purchase. Brady and Wagner have co-invested in a handful of sports ventures, including Birmingham City in the English Football League.
The Raiders’ most recent valuation is $5.8 billion. If Davis sells 10 percent of the franchise to Brady, the former NFL star quarterback would be paying $580 million.
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