Seven-time Super Bowl champion Tom Brady has officially joined the elite ranks of NFL team owners, with his approval as part-owner of the Las Vegas Raiders confirmed by the league’s ownership group on Tuesday.
Story Summary:
- Tom Brady was unanimously approved to become part-owner of the Las Vegas Raiders, holding a 5% stake.
- Brady expressed excitement, stating his passion for football and the Raiders’ legacy.
- The process highlights barriers in NFL ownership, particularly for black individuals facing systemic challenges.
Tom Brady approved as owner of Las Vegas Raiders
Brady, now holding a 5% stake in the Raiders, adds this milestone to his illustrious football career.
Brady’s ownership journey faced an 18-month delay, with issues surrounding his role as a broadcaster for Fox Sports and determining the precise terms of his stake.
Despite these hurdles, the deal finally came through, bringing him into the Raiders family.
In a statement following the announcement, Brady shared his enthusiasm, saying:
“I’m incredibly humbled and excited… Football has been a part of my entire life… I’m honoured to become part of that story with the Raiders.”
What it takes to own a team in the NFL
Owning an NFL team is an exclusive and highly challenging feat, requiring immense financial resources and connections.
With NFL franchises valued at billions, the average team is priced above $4 billion, with top-tier teams like the Dallas Cowboys worth close to $9 billion.
Prospective owners need liquid assets to cover 30% of a team’s value, excluding debt.
However, systemic barriers also exist, particularly for black individuals seeking ownership.
Despite a player base that is 70% black, NFL ownership remains overwhelmingly white.
Black prospective owners face hurdles like wealth disparities, limited access to financial networks, and societal barriers that hinder their chances of entering these tight-knit ownership circles.
Brady’s journey exemplifies the complexities involved in owning an NFL team.
The NFL ownership group, predominantly white, holds significant influence in approving new members, making it difficult for minority individuals to gain a foothold.
For black individuals hoping to enter NFL ownership, the challenges remain daunting, exacerbating the broader issue of underrepresentation in one of the world’s wealthiest sports leagues.
