DPA
Washington
Seven-time Super Bowl winning quarterback Tom Brady on Tuesday got the green light from NFL owners to become a limited partner of the Las Vegas Raiders.
Brady and his partner have acquired a 10% stake in the team, with the former quarterback turned TV pundit personally holding 5%.
Raiders owner Mark Davis and Brady had reached a deal in principle months ago.
Brady, who retired in 2022, is in his first season as a play-by-play analyst on Fox.
In view of his plans to also become a part owner of a team, his access to premises, coaching staff and players of other teams has been restricted since the start of the season.
He is allowed to commentate on Raiders games, but not criticize referees. This rule applies to all team owners in the league.
Should the 47-year-old Brady decide to come out of retirement and return to the field, he would have to sell his stake.
Brady is also a co-owner of the WNBA’s Las Vegas Aces, who won the title for the past two years. Davis is the majority owner of the team.
Last year the former quarterback also acquired a minority stake in English third division football team Birmingham City.
The Raiders have not won a Super Bowl since 1983. Since their defeat in the Super Bowl in January 2003 to the Tampa Bay Buccaneers, the Raiders have not won a playoff game.
The team, which has lost four of six games this season, parted ways on Tuesday with star receiver Davante Adams, who was traded to the New York Jets.