Tom Brady’s bid for Raiders’ stake is ‘on hold’

According to a report from The Washington Post, Tom Brady’s bid to acquire a stake in the Las Vegas Raiders is facing potential delays, as no vote is anticipated at the upcoming annual NFL meeting next week.

The retired NFL legend had aimed to secure approval from league owners by adjusting his bid for a 10 percent ownership of the team. This move came after concerns raised by the finance committee regarding the initial offer, which was deemed below market value.

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Brady had reached an agreement with Raiders majority owner Mark Davis in May, outlining a deal that would grant the seven-time Super Bowl champion a minority ownership in the NFL’s Las Vegas franchise with a reported 10 percent share, valued at $175 million. Forbes valued the Raiders at $6.2 billion in August.

However, there are reservations among league owners about the potential discount Brady might receive compared to typical limited partners, as reported by The Washington Post. Additionally, some owners perceive a potential conflict of interest in Brady’s dual roles as an owner and his new position as Fox’s lead NFL analyst. Brady is reportedly contracted for a lucrative 10-year deal worth $375 million, slated to begin next season.