Sources: Brady in talks to buy stake in Raiders

NFL legend Tom Brady is in deep discussions to become a limited partner of the Las Vegas Raiders, sources told ESPN — potentially his second foray into a partnership with Raiders owner Mark Davis on a professional sports franchise in less than two months.

Discussions between the two sides have been going on for weeks and could soon be reaching a resolution, yet sources say it’s still an extremely sensitive and fluid negotiation. Brady’s investment is expected to be “passive,” a source with direct knowledge of the situation says, and he would not have any operational control or authority over the club in business or football matters.

The NFL declined comment. A Raiders spokesperson didn’t return calls or texts. Brady’s agent, Don Yee, declined comment.

In late March, Brady announced that he had purchased a stake in the WNBA’s Las Vegas Aces, a team also primarily owned by Davis.

Even if Brady and Davis are able to agree to terms, at least 24 current team owners would have to vet and approve Brady’s limited partnership, as is the case with all minority and majority owners.

Brady’s star power and business acumen, in a city he frequently visits, would be expected to help the club realize its financial potential in the market they’ve held since they moved from Oakland in 2020 — an ironic latest chapter for the man who helped hand the Raiders one of the most painful losses in franchise history during the Tuck Rule game.

It’s believed that Brady’s 10-year, $375 million contract with Fox, which is due to start in 2024, would be unaffected by an investment in the Raiders. A source told ESPN that Fox has “blessed” the arrangement. Sources said that league policy about team ownership overlapping with media employment comes into play only if the owner holds a position of authority at the media company and could impact broadcast rights negotiations. Fox and the NFL agreed to an 11-year rights deal in 2021.

This is not the first time the seven-time Super Bowl champion has shown interest in owning a minority stake in an NFL franchise. In 2021 and 2022, Brady reportedly had discussions with the Miami Dolphins about becoming a limited partner. A six-month NFL investigation found that Dolphins team owner Stephen Ross and vice chairman/limited partner Bruce Beal — a friend of Brady’s — violated the anti-tampering policy in conversations with Brady, and the team was stripped of its first-round pick in last month’s draft, among other disciplinary measures.

Brady retired at age 45 after the 2022 season, his 23rd in the NFL, saying that this time he was done playing “for good.” Although Brady came out of a 41-day retirement after the 2021 season to play a final year with the Tampa Bay Buccaneers, he is not expected to try to play for the Raiders. Even if he wanted to, owners would have to approve his dual role.

In recent years, the Raiders have tried to replicate some of the success Brady helped inspire in New England, bringing in former Patriots offensive coordinator Josh McDaniels as their head coach, former Patriots’ executive Dave Ziegler as their general manager, and former Patriots players such as Jimmy Garoppolo, Brian Hoyer, Chandler Jones, Brandon Bolden, Jakobi Meyers and Phillip Dorsett.

But none would attract the attention that Brady might, as he would become the highest-profile former NFL player to become a limited owner of an NFL franchise.