Seven-time Super Bowl champion quarterback Tom Brady has been approved by NFL ownership as a limited partner of the Las Vegas Raiders, NFL Network Insider Ian Rapoport reported on Tuesday.
Brady and his partner now hold 10% in the Raiders with Brady personally holding a 5% stake.
"It's great that Tom Brady wants to invest in the NFL," NFL Commissioner Roger Goodell said Tuesday at the Fall League Meeting in Atlanta. "He cares deeply about this game. He believes in its future, and I think that's just a signal of that."
Brady also released a statement on the approval, conveying his gratitude for the approval and his eagerness to aid the franchise.
"I'm incredibly humbled and excited to have been unanimously approved as an owner of the Las Vegas Raiders," the statement began. "Throughout my NFL 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.
"Football has been part of my entire life growing up in the Bay Area and in so many ways, my football life and journey has come full circle. I love the sport, I love my teammates, coaches, and the fans in every organization I've been part of. Sports brings us together in a way nothing else can. I grew up on the field, and it's a blessing to know I'll be involved in the greatest league in the world for the rest of my life.
"I'd like to thank Mark Davis for welcoming me into his family, and the tireless work he's done to help build on the organization that so many fans know and love today. Also thank you to Commissioner Goodell for his support as well as all the NFL owners that supported my dream I'm forever grateful. I'd also like to thank my partner Tom Wagner, Don Yee, Jim Gray, Alex Spiro, and Larry Delson as they have been instrumental in helping me achieve this incredible milestone.
"I'm eager to contribute to the organization in any way I can, honoring the Raiders' rich tradition while finding every possible opportunity to improve our offering to fans... and most importantly, WIN football games."
Hall of Famer Richard Seymour, a former teammate of Brady with the New England Patriots and a former Raiders player, also a small stake in ownership.
Tuesday's vote ended a long-running saga for Brady's bid to enter ownership. It was first reported in May 2023 that Brady was working toward acquiring a minority stake in Raiders.
Brady's effort to purchase part of the Raiders was delayed, in part, by questions surrounding the evaluation of the percentage to be sold to him and Brady's role as a FOX Sports broadcaster.
The NFL in August placed restrictions on Brady's broadcasting access due to his potential involvement with the Raiders.
Brady is not permitted to attend in-person or online broadcast production meetings and may not have access to team facilities, players or coaches. FOX staff is not subject to these limitations.
He also must abide by the league constitution and bylaws that prohibit public criticism of officials and other clubs, but is allowed to broadcast Raiders games.
"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," Goodell said. "That's all been resolved. Has been followed very clearly and everyone seems to be very satisfied. That really wasn't a big issue until probably in the last six months."
Brady, who retired from the NFL following the 2022 season, is working with play-by-play announcer Kevin Burkhardt on FOX's top NFL broadcasting team. He signed a 10-year deal with the network in 2022, but this is Brady's first season announcing games.
The Associated Press contributed to this report.
