NASHVILLE, Tenn. (AP) — The NFL is making progress on Tom Brady's bid to become a minority owner of the Las Vegas Raiders with Mark Davis.
How much closer the seven-time Super Bowl champ is to joining the league's club of owners remains to be seen.
Owners did not vote in March on Brady's plan to add a stake in the Raiders to his minority ownership in the WNBA's Las Vegas Aces. The league concluded its spring meetings Wednesday at a Nashville hotel without a vote on Brady’s offer that has been pending for about a year.
“The finance committee has done their work on this, and we have a little more to do," Commissioner Roger Goodell said.
NFL owners aren’t scheduled to meet again until October.
One issue is the price Brady agreed to pay to join George Halas and Jerry Richardson as only the third former NFL player to be an owner. Owners want to be sure Brady doesn’t get a discount especially with how the value of NFL franchises keeps rising.
Then there's Brady's new job. The retired quarterback joins the media this upcoming season, starting his 10-year, $375 million broadcasting contract with Fox Sports, and his first game is scheduled to be Dallas' season opener at Cleveland on Sept. 8.
TV broadcasters not only have pregame production meetings with team coaches, they can watch practices as part of their preparation. That's a lot of access for someone with a potential financial stake in one of the NFL's 32 teams.
“That was one of the factors about as a member of the media what would access be like every week as he prepares for the broadcast of the game,” Goodell said. "And we’ve addressed that also. So we’re making progress.”
The NFL also wrapped up its fifth accelerator program with 28 coaches getting training on everything from crisis management to dealing with the media while also networking and having a chance to spend some time with team owners.
The league also announced Wednesday that the 2026 draft will be in Pittsburgh.
PRIVATE EQUITY AND THE NFL
With the price of NFL teams climbing ever higher, the league has been talking about allowing private equity firms or other groups to invest in the league's clubs.
NFL rules currently prohibit such investments, limits on the number of people in an ownership group and require a lead owner to hold a certain stake.
The Washington Commanders sold for a record $6.05 billion in 2023, making it the largest price for a North American professional sports franchise. That topped the $4.55 billion Walmart heir Robert Walton paid for the Denver Broncos in 2022.
A committee has been studying potential changes to those ownership rules. Goodell said they did approve a change in how much debt a group can carry when buying a team and are making real progress.
“We are going to continue to be very deliberate, but I would expect there to be something before the end of the year,” Goodell said.
