Nationwide Soccer League house owners accepted Tom Brady as a minority proprietor of the Las Vegas Raiders on Tuesday, an individual acquainted with the matter instructed CNBC.

The seven-time Tremendous Bowl champ purchased a few 10% stake within the Raiders along with his enterprise companion, Knighthead Capital founder Tom Wagner.

The NFL’s 32 staff house owners signed off on the deal unanimously on the league assembly in Atlanta, the individual instructed CNBC. Brady and Wagner didn’t attend the assembly, in accordance with the individual.

The value Brady is paying for his stake is unclear. However CNBC’s Official 2024 NFL Team Valuations pegged the Raiders because the NFL’s fifth-most helpful franchise, value $7.8 billion.

The worth of the Raiders has climbed for the reason that staff relocated from Oakland in 2020. Previous to the transfer, the staff was valued among the many backside half of the league’s 32 groups.

Because the staff moved to Las Vegas and its new stadium, its income has elevated considerably. The Raiders earned $780 million in income in 2023, the third highest within the league, and generated EBITDA of $115 million, in accordance with CNBC’s valuations.

Whereas Allegiant Stadium is among the many smallest within the NFL at 65,000 seats, the Raiders compensated by charging the best ticket value within the league, CNBC beforehand reported. The typical basic ticket value final season was $169.

Allegiant Stadium, which is operated by the Raiders, additionally hosts quite a few non-NFL occasions all year long, which brings in further income for the franchise. In 2023, the Raiders took in over $50 million from live shows and different occasions like school soccer.

Brady’s bid for a chunk of the staff started in Might 2023 however has been held up as a result of some house owners felt the initial offer was too discounted.

After he first retired from the NFL, Brady signed a 10-year, $375 million broadcasting take care of Fox Sports activities in 2022. Brady’s new possession will come with restrictions on how he covers the staff.

For instance, Brady can be allowed to broadcast Raiders video games, however he wouldn’t be permitted to attend in-person or on-line manufacturing conferences. He additionally could not have entry to staff services, gamers and coaches.

Brady may even be topic to the league guidelines that prohibit public criticism of officers and different golf equipment.

The five-time Tremendous Bowl MVP isn’t new to the Las Vegas sports activities scene. He’s additionally a minority proprietor of the Women’s National Basketball Association’s Las Vegas Aces, which, just like the Raiders, is owned by Mark Davis.

Brady will likely be simply the third former NFL participant to grow to be a staff proprietor.