Oh, To Be Rich…
However, there are some issues that need to be sorted out. Apparently, the NFL thinks that Davis is trying to give Brady too big of a discount. The NFL owners’ meetings are taking place right now but apparently, there’s no update on the situation, per Indianapolis Colts owner Jim Irsay.
“No, we never talked about that,” Irsay said of the deal Wednesday, via Jori Epstein of Yahoo.com.
Re: Tom Brady acquiring minority stake in Raiders, sounds like no movement at league meeting.
Jim Irsay: “No, we never talked about that.”
Irsay, who’s on finance committee that needs to approve Brady, said “the number just had to be a reasonable number for purchase price.”
— Jori Epstein (@JoriEpstein) October 18, 2023
It appears the Raiders might slow play this situation. Brady only has a net worth of $300 million, which is a lot for a normal person but not much for somebody trying to get 10% of an NFL team worth $6.2 billion.
Davis may wait until NFL games are done being played before trying to resolve the situation. Previous reports indicated that the owner is trying to give Brady around a 70% discount. Irsay admitted that the number needs to be better before the NFL approves anything.
“The number just had to be a reasonable number for purchase price,” Irsay said.
Colts owner Jim Irsay says Tom Brady is getting too steep a discount to buy into Raiders https://t.co/z5vQCWXeH2
— The Boston Globe (@BostonGlobe) October 18, 2023
At the end of the day, it’s Davis’ team and should be able to do whatever he wants with it as long as it doesn’t violate NFL rules. He could sue but that’s unlikely. Mark Davis isn’t like his father, who sued the NFL and won before.
Regardless, I wouldn’t expect any NFL news on this anytime soon. Davis’ Las Vegas Aces just won the WNBA championship and he’s probably not in the mood to cause a scene. He clearly is highly motivated to get Brady involved and every player dreams of owning a team.
— WNBA (@WNBA) October 19, 2023
Odds are, that a deal eventually gets made. Perhaps Brady will take a smaller percentage. At the end of the day, he just doesn’t have enough money to pay a fair price for five to 10% of the team. Davis doesn’t have an heir right now so he probably isn’t too concerned about the money but the other owners love to meddle when they can.
We’re likely going to have to wait for a resolution but hopefully, the Raiders figure out a way to work this out. While Brady hasn’t been an NFL owner before, he brings a certain level of legitimacy to any NFL team.