Tom Brady's bid to buy part of Raiders approved by NFL owners after lengthy wait

Tom Brady's wait to join the NFL ownership ranks is finally over.

At the league's fall meeting Tuesday in Atlanta, owners officially approved Brady's bid to purchase approximately 10% of the Las Vegas Raiders with his business partner Tom Wagner.

“I think it’s great that Tom Brady wants to invest in the NFL," NFL Commissioner Roger Goodell said in a news conference.

The vote brings to a close a process that began in May 2023 but was held up amid questions regarding the financial details of the agreement, including whether Brady had been given too favorable terms amid the franchise's rise in value.

But Brady's stake – which is at 5% on its own – was unanimously approved by the league's finance committee, making Tuesday's vote almost a formality.

Tuesday proved to be an eventful day for Raiders owner Mark Davis, with his team also trading wide receiver Davante Adams to the New York Jets .

"We traded Davante Adams for Tom Brady and a third-round pick," Davis said. "Although Tom can't play, he can help us select a quarterback in the future and potentially train him as well. So, it's a huge benefit to the organization."

Pro Football Hall of Famer and former Raiders defensive lineman Richard Seymour said Tuesday he, too, had acquired a stake in the franchise.

Said Davis of Seymour's move: "To me, it's having the right people as part of your organization. Richard and my father got along unbelievably. There was so much mutual respect between those two."

The partnership marks the second time Brady has done business with Davis, as the former quarterback also agreed to purchase part of the WNBA's Las Vegas Aces in March 2023.

Brady, 47, retired following the 2022 NFL season, but he hasn't strayed from the league's spotlight. Prior to his final campaign, he agreed to a contract with Fox to become the network's lead in-game analyst, a role he began this season.

Amid his pursuit of partial ownership of the Raiders, however, Brady was given several restrictions on access typically afforded to broadcasters. He has been barred from attending teams' practices or participating in production meetings, and he is not allowed in other teams' facilities. As an owner, he also is not permitted to criticize officials on air.

(This story has been updated with new information.)

This article originally appeared on USA TODAY: Tom Brady's bid to buy part of Raiders approved by NFL owners after lengthy wait