Tom Brady’s Raiders ownership bid could hit major roadblock after $50,000,000 Super Bowl commercial appearance: Report
Tom Brady's path to becoming the minority owner of the Las Vegas Raiders is in the works. The seven-time Super Bowl champion could become a limited partner around late March.
But Brady could face a major barrier after his recent appearance in BetMGM's $50 million commercial during the Super Bowl 58 in Las Vegas.
According to Mike Florio of PFT, when Tom Brady's minority stake with the Raiders is approved, he has to drop his advertising deal with BetMGM since it violates the NFL's gambling policy.
“NFL personnel are prohibited from engaging in, using or permitting the use of one’s name or images in connection with activities or materials that depict, advertise, market or promote any form of gambling, including sports betting.”
Florio also reported that every owner can own up to five percent of any company that operates a sportsbook, including Tom Brady.
The deal to become the minority owner of the Raiders has been in the books for a year. There have been hiccups along this journey, with one of the reasons being Mark Davis, the principal owner of the Raiders, giving Brady a stake at a discounted price.
However, according to the latest developments reported by Sportico, the NFL icon is joining hands with Knighthead Capital co-founder Tom Wagner to acquire a 10% stake in the Raiders franchise. Brady will own 7% out of the 10% in their partnership.
The legendary quarterback's stake in the Raiders franchise will be discussed next month by the NFL's finance committee and could be approved during the NFL Annual League Meeting from March 24-27.
What other sports teams does Tom Brady own?
Tom Brady's portfolio of sports teams doesn't just stick with the Las Vegas Raiders. The Patriots icon bought an ownership stake in Birmingham City Football Club last year in August. He loves his team and has also made multiple visits to cheer for them during the games.
Brady is also a minority owner of the Las Vegas Aces in the WNBA. The deal was approved last year in March. Apart from this, the seven-time Super Bowl champion also owns a Major League Pickleball expansion team and a team in the E1 series, an electric powerboat racing championship.