NFL legend Tom Brady announced his retirement, for a second time, at the end of the 2023 season, which preceded a career transition to broadcasting NFL games.
Brady can now add the title of NFL team owner to his long list of accomplishments in the National Football League.
What Happened: After taking a year off from the NFL following his retirement, Brady kicked off his broadcasting deal with Fox Corporation FOX FOXA in the 2024 season.
Brady is now one of the featured broadcasters on Fox's Sunday game lineup.
The former NFL star has been trying to buy a stake in the Las Vegas Raiders, a deal that was officially approved by NFL owners on Tuesday.
Brady now owns a 5% stake in the Raiders, adding to his portfolio of team ownership that includes stakes in the WNBA's Las Vegas Aces, English soccer team Birmingham City and a pickleball franchise.
"It's great that Tom Brady wants to invest in the NFL," NFL Commissioner Roger Goodell said. "He cares deeply about this game. He believes in its future, and I think that's just a signal of that."
Brady shared his excitement after the deal was approved.
"I'm incredibly humbled and excited to have been unanimously approved as an owner of the Las Vegas Raiders. Throughout my career, I've learned that at its core, football is a game of teamwork, resilience, and a relentless pursuit of excellence. The Raiders franchise, and the city of Las Vegas embody these same values, and I'm honored to become part of that story," Brady said.
Brady’s interest in acquiring a stake in the Raiders was reported last year, tied to his connections with the team. His former New England Patriots offensive coordinator Josh McDaniels was the team's head coach, and his former backup quarterback Jimmy Garoppolo was the team's starting quarterback. Neither McDaniels or Garoppolo is still with the Raiders.
Before Raiders fans get excited that this means Brady could come out of retirement to play quarterback for the team he now has a financial stake in, this is one of many things not allowed by the league. Brady would not be able to play for an NFL team and keep his ownership stake.
Brady will also have to follow several rules related to owning an NFL team and being a broadcaster for league partner Fox.
The rules include:
- Not permitted to attend in-person or online broadcast production meetings
- Can not access team facilities, players or coaches
- Can not publicly criticize officials
- Can not publicly criticize other NFL teams
"Let me just say on the media side, Tom's been abiding by the issues that we raised through the committee voluntarily since he began his broadcasting. That's all been resolved," Goodell said.
Other Fox broadcasters do not have to abide by the same rules. Brady will be allowed to broadcast Raiders games to which Fox has the rights.
Why It's Important: News of Brady's ownership stake and the media limitations come as Fox and other media partners are seeing viewership of NFL games up year-over-year to start the 2024 NFL season.
Fox holds the rights to Sunday games, featuring multiple matchups in the 1 p.m. ET window, including a nationally televised game. The network also alternates airing a second nationally broadcast game in the 4 p.m. ET window, rotating with CBS for the doubleheader of national games every other week.
Brady's first NFL regular season game in the broadcast booth was the Week 1 matchup between the Dallas Cowboys and Cleveland Browns, which had an average of 23.9 million viewers.
Anyone who watches an NFL game frequently hears commentators mention their conversations with players, coaches, and owners earlier in the week, or reference plays they observed during team practices.
Brady will not be able to do any of these team activities, which can help fill dead space during the broadcast or link a play performed in the game to a play at practice or a coach’s comment.
The big question is whether Fox and its fans will care or notice.
Fox is paying Brady a reported $375 million over the 10-year broadcasting contract, making him one of the highest-paid sportscasters. Fox was said to have given their blessing on Brady's ownership stake in the Raiders. Time will tell if being an owner and a well-loved broadcaster can mix.
It's a big year for Fox in terms of NFL rights, with the media network having the rights to Super Bowl LIX in 2025.
Read Next:
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
