Legendary quarterback Tom Brady’s bid to become a minority owner of the Las Vegas Raiders is expected to be approved at the NFL’s fall owners’ meetings in Atlanta on Tuesday, according to a league source. The league’s financial committee will review Brady’s bid, and a vote is expected to receive the necessary 24 votes out of 32 owners to approve the approximately 10 percent stake Brady and his business partner, Tom Wagner, plan to purchase.
Here’s a timeline of Brady’s path to potentially becoming a minority owner of the Raiders.
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January 18, 2020: Brady attended UFC 246 in Las Vegas and was photographed smiling with Raiders owner Mark Davis and then-Raiders executive Marcel Reece. The Raiders were entering their first season in Las Vegas, while Brady was coming off what would be his final season with the New England Patriots. With Brady set to become an unrestricted free agent that March, rumors were swirling he could sign with the Raiders to replace Derek Carr.
The Raiders considered pursuing Brady, but coach Jon Gruden, who had personnel power, decided against it and stuck with Carr. Brady signed with the Tampa Bay Buccaneers, but the Raiders’ flirtation remained significant as Brady’s relationship with Davis deepened.
In an appearance on CBS Sports Radio last year, former Raiders CEO Amy Trask said that Davis has leaned on sportscaster Jim Gray as a “primary adviser” over the years and that, at some point, Gray “facilitated the relationship” between Davis and Brady.
January 14, 2021: Davis agreed to purchase the WNBA’s Las Vegas Aces. He’d been an Aces season ticket holder since 2018 and a fan of the WNBA since play began in 1997.
February 12: 2021: Davis’ purchase of the Aces was formally approved by the WNBA and its owners.
February 1, 2022: Brady announced his retirement from the NFL after 22 seasons at age 44. He won a Super Bowl with the Buccaneers following the 2020 season, but they lost in the divisional round of the playoffs the next season.
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March 13, 2022: Fourty days after announcing his retirement, Brady changed his mind and announced he’d return to play for the Bucs in 2022. He signed a restructured one-year extension in April.
May 10, 2022: Fox Sports announced it signed Brady to a 10-year, $375 million contract to become its lead color commentator for NFL games. The plan was for him to start whenever his playing career concluded.
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May 31, 2022: Brady attended an Aces game in Las Vegas. He caught up with Davis and expressed his admiration for what he and the franchise were building. On the court, the team was thriving and en route to its first WNBA title later that season. The Aces were regularly selling out games and drawing some of the best attendance in the league.
“I think he was just really impressed with how far women’s basketball has come,” Davis told The Athletic last year. “And he was also impressed by the excitement and the enthusiasm of the crowd in Las Vegas.”
Shortly after the game, Brady’s representatives reached out to Davis and asked whether he would be willing to sell a minority stake in the Aces.
“He knew that I was in it, and I think he just felt he wanted to be a part of it,” Davis said. “And so, his people contacted me, and we talked about it, and he became a partner.”
Welcome to the Aces Family, @TomBrady! 🏆 pic.twitter.com/4bj3IPQz2K
— Las Vegas Aces (@LVAces) March 24, 2023
Dec. 28, 2022: Coach Josh McDaniels announced the Raiders were benching Carr. Although Carr had signed a three-year extension with the franchise that April, it included a clause that allowed the Raiders to easily get out of the contract after one season. In benching Carr, McDaniels and general manager Dave Ziegler made it obvious that they planned to move on from the veteran quarterback.
That meant the Raiders needed to find a new starting quarterback. The Raiders viewed Brady as their primary option, according to league sources. As a Patriots assistant coach, McDaniels won six Super Bowls and produced some of the league’s best offenses working alongside Brady in New England. Brady was set to become an unrestricted free agent in March 2023, and there was reason to believe he could look to play elsewhere if he didn’t win another Super Bowl with Tampa Bay.
Jan. 16, 2023: The Bucs were eliminated in the wild-card round of the playoffs in an embarrassing 31-14 loss to the Dallas Cowboys.
Feb. 1, 2023: Brady announced his retirement “for good.” This time, he didn’t go back on the decision.
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March 23, 2023: The Aces formally announced that Brady had reached an agreement with Davis to become a minority owner. Although Brady had passed on the opportunity to play for the Raiders, his relationship with Davis made it a good fit.
“I am very excited to be part of the Las Vegas Aces organization,” Brady said in a statement released by the team. “My love for women’s sports began at a young age when I would tag along to all my older sisters’ games. They were by far the best athletes in our house! … I have always been a huge fan of women’s sports, and I admire the work that the Aces’ players, staff and the WNBA continue to do to grow the sport and empower future generations of athletes. To be able to contribute in any way to that mission as a member of the Aces organization is an incredible honor.”
Tom Brady, WNBA commissioner Cathy Engelbert and Raiders and Aces owner Mark Davis attend a 2023 WNBA championship banner-raising ceremony before the Aces’ 2024 home opener on May 14. (Ethan Miller/Getty Images)
May 22, 2023: Davis told ESPN he had come to an agreement with Brady for him to purchase a minority ownership stake in the Raiders.
“We’re excited for Tom to join the Raiders,” Davis told ESPN, “and it’s exciting because he will be just the third player in the history of the National Football League (after George Halas Sr. and Jerry Richardson) to become an owner.”
Oct. 5, 2023: The Washington Post reported that Brady’s bid to become a part-owner of the Raiders had hit a snag. According to the report, there was concern by the other NFL owners about Davis offering Brady a reduced price for a 10 percent stake. When contacted by The Athletic, Davis and Brady’s representation declined to comment.
Aug. 28, 2024: As Brady prepared to make his broadcasting debut with Fox Sports in Week 1, he learned he’d face extensive restrictions due to his bid to acquire an ownership stake in the Raiders.
Although Brady still hadn’t been formally approved as a minority owner, a league source told The Athletic he would not be allowed key access typical for NFL broadcasters in his role as a Fox analyst. He’s not allowed access to other teams’ facilities and practices and can’t attend broadcast production meetings, which usually include meetings with coaches and players ahead of games. He’s also not allowed to publicly criticize officials or other teams and could be fined or suspended if the league feels he breaks that policy. He also must abide by the league’s gambling and anti-tampering policies and is limited to “strictly social communication” with members of other teams.
A network source told The Athletic that Fox Sports had no concerns about the limitations, and Brady agreed to them.
Oct. 5, 2024: According to the Washington Post, Brady and businessman Tom Wagner, the co-founder of Knighthead Capital Management, increased their financial offer to purchase a 10 percent stake in the Raiders from Davis.
Oct. 15, 2024: The NFL’s fall owners’ meetings take place in Atlanta. If the owners vote on Brady’s bid as expected, he would need 24 of the 32 votes to approve his bid. The bid is expected to be approved, according to league sources.
If they don’t vote in Atlanta, the next chance will come at the NFL’s next league meeting on Dec. 10-11 in Irving, Texas.
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The Athletic’s Andrew Marchand, Richard Deitsch, Dianna Russini and Vic Tafur contributed to this report.
(Top photo of Mark Davis and Tom Brady: Ethan Miller / Getty Images)