New NFL rule disrupts Tom Brady trying to invest in Las Vegas Raiders
Tom Brady's attempts to become a Las Vegas Raiders minority owner have been complicated by a new NFL rule effectively banning those with equity in a franchise also being an employee.
Brady, 45, is in the process of investing in the Raiders after reaching an agreement with controlling owner and managing general partner Mark Davis. Since retiring at the start of February, the former quarterback has acquired a stake in the WNBA franchise the Las Vegas Aces, which Davis owned outright before partnering with Brady in March.
The seven-time Super Bowl champion joining the Raiders ownership group is subject to at least 24 out of 31 other NFL team owners approving the partnership by voting in favour of the partial sale. Should it pass, Brady will join George Halas and Jerry Richardson as the only individuals to play in the league and later own one of its teams.
Joining that exclusive club would also stop him from coming out of retirement to play for the Raiders, or any other NFL team, barring a rule change. Owners, even limited partners, cannot take to the field until a motion against the ban goes through by three-quarters of the teams.
That prospect is not currently on the table, and now rules around owners becoming employees within the team are being tightened. Only family members with equity in the franchise can also work for the organisation.
Joe Burrow backs Patrick Mahomes after Kansas City Chiefs reach Super Bowl
NBC Sports reports that Davis was planning to employ Brady, presumably in a non-playing position, as well as having him on the ownership group. However, becoming a partner now blocks him, and any other individual, from formally working for the team too.
It works the opposite way around too. Players cannot receive equity in the league's franchises while also working for them, in contrast to other American sports leagues such as Major League Soccer, where Lionel Messi now has equity in Inter Miami after signing.
The rule was passed, despite Davis passionately raising concerns about the proposal, during the same special meeting that saw the league green-light Josh Harris taking over ownership of the Washington Commanders from Daniel Snyder. Over two months after it came to light that Brady was discussing becoming an owner, this rule change could further delay or even derail the process.
He spoke about the reasons behind wanting to own the Raiders in early June. "The opportunity came about to become a minority owner in the Raiders; it was a dream come true for me," he told AP. "I’ll be playing a very passive role.
"This is something that I’m interested in doing for the rest of my life. This is not something that I’m into it for a year or two years. if I’m looking over the course of my life, to have the opportunity to be involved in the NFL is a dream come true."
Read more similar news:
Comments:
comments powered by Disqus
