ATLANTA — NFL house owners voted in favor of Las Vegas Raiders proprietor Mark Davis’ sale of a minority stake within the franchise on the league’s fall house owners’ conferences Tuesday. Former NFL quarterback Tom Brady, former NFL defensive lineman Richard Seymour and businessman Tom Wagner, the co-founder of Knighthead Capital Administration, had been authorised as minority house owners.
Davis offered about 10.5 p.c of the Raiders, in keeping with league sources, with Brady and Wagner buying about 5 p.c every. Sports activities Illustrated reported Tuesday that Seymour acquired about 0.5 p.c. The costs Brady, Wagner and Seymour paid for his or her respective shares had been undisclosed.
“I’m extremely humbled and excited to have been unanimously authorised as an proprietor of the Las Vegas Raiders,” Brady mentioned in an announcement launched on X. “All through my NFL profession, I’ve discovered that at its core, soccer is a sport of teamwork, resilience and a relentless pursuit of excellence. The Raiders franchise and town of Las Vegas embody these similar values, and I’m honored to develop into a part of that story.”
Dedication to Excellence @Raiders pic.twitter.com/GS0WwHkAtz
— Tom Brady (@TomBrady) October 15, 2024
“It’s nice that Tom Brady desires to spend money on the NFL,” league commissioner Roger Goodell mentioned on the conferences Tuesday. “He cares deeply about this sport. He believes in its future.”
It was an eventful day for the Raiders as they welcomed three new minority house owners on the identical day they traded star receiver Davante Adams to the New York Jets for a conditional third-round choose.
“We traded Davante Adams for Tom Brady and a third-round choose at present,” Davis joked to reporters.
On a severe be aware, Davis’ determination to promote a part of the franchise wasn’t nearly receiving a big sum of money. He additionally needed to formally add the collective soccer acumen possessed by Brady and Seymour.
“The transactions that we’re doing should not primarily based on simply getting cash,” Davis mentioned. “It’s bringing worth to the franchise.”
Seymour performed for the Raiders from 2009 to 2012, which included the franchise’s final years underneath the late Al Davis and son Mark’s first full season as controlling proprietor. Seymour had a relationship with each father and son. This previous offseason, he was on the interview panel that helped rent common supervisor Tom Telesco and coach Antonio Pierce.
I’m deeply grateful—humbled and honored—to develop into a NFL proprietor. That is the mission of a lifetime, and I settle for it with each objective and pleasure. With nice alternative comes nice duty. And I pledge to be a worthy steward of our sport—and all it makes doable. @Raiders
— Richard Seymour (@BigSey93) October 15, 2024
Brady may ultimately be concerned, as nicely.
“I’m desperate to contribute to the group in any means I can,” Brady mentioned in his assertion, “honoring the Raiders’ wealthy custom whereas discovering each doable alternative to enhance our providing to followers … and most significantly, WIN soccer video games.”
Davis’ relationship with Brady deepened when the longtime New England Patriots quarterback grew to become a free agent in 2020. The Raiders had been fascinated about signing Brady, however then-coach Jon Gruden determined to move.
“I needed him to play for the Raiders,” Davis mentioned. “It didn’t come to fruition for sure causes, and he went to Tampa Bay and ended up successful a Tremendous Bowl. I had stayed in contact together with his agent and simply let his agent know on the time that I might love, in some unspecified time in the future in time, for Tom to be a part of this group. The seeds had been sown then, and it got here to fruition.
“I’ve gotten to know Tom over the past 4 years. He’s simply actually one hell of a man.”
Though Davis mentioned it will be “placing the cart earlier than the horse” to outline a job for Brady at this level, he did point out the long run Corridor of Famer may have a big position in soccer operations.
“Though Tom can’t play, I believe he might help us choose a quarterback sooner or later and probably prepare him as nicely,” Davis mentioned. “It’s an enormous profit to the group.”
Mark Davis sees Tom Brady having a say within the Raiders’ subsequent beginning QB 👀 pic.twitter.com/cuKoqHM5Sz
— The Athletic (@TheAthletic) October 15, 2024
That mentioned, neither Brady nor Seymour can carry titles with the Raiders apart from “restricted companion.” In response to NFL guidelines, somebody with fairness can solely be a crew worker in the event that they’re the controlling proprietor or are associated to the controlling proprietor.
Brady will proceed his position as a sport analyst on Fox. The NFL has already positioned restrictions on Brady, which he agreed to earlier than the beginning of this season, in keeping with a league supply. He’s not allowed entry to different groups’ services and practices, nor can he attend broadcast manufacturing conferences, which normally embody conferences with coaches and gamers forward of video games.
“It’s one thing that (house owners) did have considerations about,” Davis mentioned. “I might say that if an proprietor of the Chiefs needed to return and interview my head coach and quarterback, I in all probability wouldn’t need him to do it, both. … I understood what individuals had been involved about.”
Brady can be not allowed to publicly criticize officers or different groups and may very well be fined or suspended if the league feels he breaks that coverage. He additionally should abide by the league’s playing and anti-tampering insurance policies and is restricted to “strictly social communication” with members of different groups.
“Tom’s been abiding by the problems that we’ve raised within the committee voluntarily since he started broadcasting,” Goodell mentioned Tuesday, “in order that’s all been resolved. It’s been adopted very clearly, and everybody appears to be happy with that.”
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Davis stays the Raiders’ controlling proprietor. Meaning he has the ultimate say over all selections regarding the franchise and is the one one who has voting rights on the NFL house owners’ conferences.
In reality, Davis may promote almost all of his stakes within the Raiders and would nonetheless be the controlling proprietor. As of 2022, the NFL dropped the minimal proportion of a crew {that a} longstanding proprietor should management from 5 p.c to 1 p.c for groups which have had the identical proprietor for a minimum of 10 years. Davis has owned the crew since his father Al died in 2011, so he would fall into that group.
For another person to develop into the controlling proprietor, they would want to amass a minimum of a 30 p.c stake within the franchise. They might additionally have to personal extra shares than Davis and his mom Carol Davis, the co-owner of the crew. Davis, 69, has no siblings and is single with no kids. If that continues to be the case, when he and his mom die, the franchise would possible be put up on the market.
Mark Davis proud to have Tom Brady as Vegas Raider pic.twitter.com/9Rm75m12ZR
— Dianna Russini (@DMRussini) October 15, 2024
In fact, Davis may determine to move the possession torch whereas he’s nonetheless residing. Brady, Wagner and Seymour, amongst others, may theoretically make a push to drag that off in some unspecified time in the future. That may very well be extra vital down the street, however probably the most related level to observe for the Raiders within the instant future is the extent of affect Brady and Seymour have, particularly.
Davis has been open about the truth that he doesn’t possess the soccer acumen that his father did and has expressed a need to fill that void in soccer operations. Leaning on a pair of Corridor of Fame gamers may very well be a method of remedying that.
“I talked to NFL gamers, present and former, about the way forward for the NFL,” Goodell mentioned, “and I believe there’s quite a lot of curiosity (in crew possession). Significantly former gamers are doing that, and I’ve inspired them. You see two examples right here, each Richard and Tom, however there are others … which are probably going to be within the course of within the very close to future. We predict that’s an incredible factor.”
This improvement comes because the Raiders are in a interval of transition. Of their first yr with Pierce and Telesco on the helm, they sit at 2-4. The crew hasn’t made the playoffs since 2021, hasn’t gained a playoff sport since 2002 and doesn’t look near ending both of these streaks this season.
Davis bears the lion’s share of the duty for getting the Raiders again heading in the right direction. Now, he has some extra assist to determine issues out.
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(Picture: Ron Jenkins / Getty Photos)