Tom Brady has reached a deal to become a minority owner of the Las Vegas Raiders, according to reports.
The seven-time Super Bowl champion’s agreement with Raiders owner Mark Davis is now pending approval by the NFL, CBS Sports reported Monday.
Brady, 45, retired from the NFL in February after 23 seasons with the New England Patriots and Tampa Bay Buccaneers. The following month, the former quarterback became a minority owner of the Las Vegas Aces, the WNBA team owned by Davis.
Brady’s discussions to join the Raiders as a limited partner began weeks before they were first reported by ESPN this month. He reportedly received approval to pursue the venture from Fox Sports, where he’s set to become a football analyst during the 2024 season on a 10-year, $375 million contract.
Brady isn’t expected to have any operational control of the Raiders, according to ESPN.
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The Raiders, who moved from Oakland to Las Vegas in 2020, recently signed quarterback Jimmy Garoppolo, who backed up Brady in New England from 2014-16. He replaces longtime starter Derek Carr, who joined the New Orleans Saints in the offseason.
Brady won six of his Super Bowls with New England, where he played his first 20 NFL seasons. He won his seventh championship in 2021 after the first of his three seasons with Tampa Bay.
The five-time Super Bowl MVP originally announced his retirement in 2022 but ultimately returned for another season. In his second retirement announcement, Brady said he was leaving the field “for good.”
The Patriots plan to honor Brady during their 2023 home opener against the Philadelphia Eagles on Sept. 10. New England is scheduled to play the Raiders in Las Vegas on Oct. 15.