Tom Brady and Richard Seymour approved by NFL as co-owners of Raiders

ATLANTA — NFL owners voted for the Las Vegas Raiders to sell owner Mark Davis a minority stake in the franchise during Tuesday's fall league owners' meeting. Former NFL quarterback Tom BradyFormer NFL defensive lineman Richard Seymour and businessman Tom Wagner, co-founder of Knighthead Capital Management, have been approved as minority owners.

According to league sources, Davis sold about 10.5 percent of the Raiders and Brady and Wagner bought about 5 percent each. – Sports Illustrated reported on Tuesday. that Seymour acquired about 0.5 percent. The prices Brady, Wagner and Seymour paid for their shares were not disclosed.

“I am incredibly honored and thrilled to be unanimously confirmed as the owner of the Las Vegas Raiders,” Brady said in a statement released on X. “Throughout my NFL career, I have learned that at its core, football is a game of teamwork, resilience and constant pursuit of perfection. The Raiders franchise and the city of Las Vegas embody the same values ​​and I am honored to be a part of that history.

Commitment to excellence @Raiders pic.twitter.com/GS0WwHkAtz

— Tom Brady (@TomBrady) October 15, 2024

“It's great that Tom Brady wants to invest in the NFL,” league commissioner Roger Goodell said at Tuesday's meetings. “He cares a lot about this game. He believes in its future.”

It was an eventful day for the Raiders, as on the same day they welcomed three new minority owners after trading star star Davante Adams to the New York Jets for a conditional third-round pick.

“We traded Davante Adams for Tom Brady and today's third-round pick,” Davis joked to reporters.

More seriously, Davis' decision to sell part of the franchise wasn't just about receiving a large sum of cash. He also wanted to formally add the collective football acumen that Brady and Seymour possess.

“The transactions we do are not just about getting money,” Davis said. “It brings value to the franchise.”

Seymour played for the Raiders from 2009 to 2012, which included the franchise's final years under the late Al Davis and son Mark's first full season as controlling owner. Seymour had relationships with both father and son. Last offseason, he was part of the interview panel that helped hire general manager Tom Telesco and coach Antonio Pierce.

I am deeply grateful – humbled and honored – to become an NFL owner. This is my life's mission and I accept it with both purpose and pride. With great opportunities comes great responsibility. And I pledge that I will be a worthy steward of our game – and all that it enables. @Raiders

— Richard Seymour (@BigSey93) October 15, 2024

Brady may end up getting involved as well.

“I want to contribute to the organization in every way I can,” Brady said in his statement, “by paying homage to the Raiders' rich tradition while seeking every possible opportunity to enhance our fan experience… and, most importantly, WIN football games. “

Davis' relationship with Brady deepened over time New England Patriots The quarterback became a free agent in 2020. The Raiders were interested in signing Brady, but then-coach Jon Gruden decided to move on.

“I wanted him to play for the Raiders,” Davis said. “For some reasons it didn't happen, so he went to Tampa Bay and ended up winning the Super Bowl. I kept in touch with his agent and that's when I told him I wanted Tom to be a part of this organization at some point. The seed was then sown and it bore fruit.

“I've gotten to know Tom over the last four years. He's a really damn cool guy.

While Davis said it would be “putting the cart before the horse” to define Brady's role at this point, he did indicate that the future Hall of Famer could play a significant role in football operations.

“Even though Tom can't play, I think he can help us draft a quarterback in the future and potentially coach him as well,” Davis said. “This is a huge benefit to the organization.”

Mark Davis sees Tom Brady having something to say about the Raiders' next starting QB 👀 pic.twitter.com/cuKoqHM5Sz

— Sportowiec (@TheAthletic) October 15, 2024

That said, neither Brady nor Seymour can have any titles other than “limited partner” with the Raiders. Under NFL rules, an equity holder can only be an employee of a team if he or she is or is affiliated with the controlling owner.

Brady will continue to serve as a game analyst for Fox. The NFL has already imposed restrictions on Brady, according to a league source, which he agreed to before the start of this season. He is not allowed access to other teams' facilities or practices, nor can he participate in broadcast production meetings, which typically include meetings with coaches and players before games.

“It's something that (the owners) actually had concerns about,” Davis said. “I would say that if the Chiefs owner wanted to come in and interview my head coach and my quarterback, I probably wouldn't want him to do that either.[…]I understood what people were worried about.”

Brady is also prohibited from publicly criticizing officials or other teams and could be fined or suspended if the league finds him violating this policy. He must also abide by the league's gambling and anti-tampering policies and is limited to “strictly social communication” with members of other teams.

“Tom has been voluntarily complying with the issues we have raised with the committee since he started broadcasting,” Goodell said Tuesday, “so everything has been resolved. This is followed very clearly and everyone seems happy with it.”

Davis remains the dominant owner of the Raiders. This means he has the final say in all decisions regarding the franchise and is the only one with the right to vote at NFL owners' meetings.

In fact, Davis could sell almost all of his shares of Raiders and still be the controlling owner. Beginning in 2022, the NFL lowered the minimum percentage of a team that must be controlled by a long-time owner from 5% to 1% for teams that have had the same owner for at least 10 years. Davis has owned the team since his father Al died in 2011, so he was part of that group.

For someone else to become controlling owner, they would have to acquire at least 30 percent of the franchise. They would also have to own more shares than Davis and his mother, Carol Davis, co-owner of the team. Davis is 69 years old, has no siblings and is single with no children. If it stays that way, the franchise will likely be put up for sale after he and his mother die.

Mark Davis is proud to have Tom Brady as a Vegas Raider pic.twitter.com/9Rm75m12ZR

— Dianna Russini (@DMRussini) October 15, 2024

Of course, Davis could have decided to pass the ownership torch while he was still alive. Brady, Wagner and Seymour, among others, could theoretically push for this at some point. This may be more important in the future, but the most important thing to monitor for the Raiders in the near future is the level of influence that Brady and Seymour in particular have.

Davis openly admitted that he did not have the football acumen that his father had, and expressed his desire to fill this void in football activities. The solution to this problem may be to lean on a pair of Hall of Fame players.

“I've talked to current and former NFL players about the future of the NFL,” Goodell said, “and I think there's a lot of interest (in team ownership). Especially former players do this, which I encourage them to do. You see two examples here, both Richard and Tom, but there are others… that will potentially be implemented in the near future. We think it's a great thing.”

This development comes as the Raiders are in a period of transition. They are 2-4 in their first year under Pierce and Telesco. The team hasn't made the playoffs since 2021, hasn't won a playoff game since 2002, and doesn't look like it's close to ending any of those streaks this season.

Davis bears the lion's share of responsibility for getting the Raiders back on track. Now he has extra help solving problems.

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(Photo by Ron Jenkins/Getty Images)