NFL owners approve Tom Brady's purchase of minority stake in Las Vegas Raiders | Tom Brady

Tom Brady has another new role in the NFL: owner.

The seven-time Super Bowl champion acquired a minority stake in the Las Vegas Raiders, a deal approved by NFL team owners Tuesday at the league's annual fall meeting.

Brady, who played 23 seasons with the Patriots and Buccaneers, takes 5% control of the Raiders. He had to receive 24 out of 32 votes. Brady, 47, can't come out of retirement and play football again unless he sells his share of the team.

The deal was originally agreed to in May 2023, but it took 17 months for owners to sign off on concerns that Brady was receiving too much of a discount from Raiders majority owner Mark Davis. Brady's new job as a broadcaster at Fox was also an issue because it could pose a conflict of interest.

The NFL placed restrictions on Brady before the season to limit his access. He will not be permitted to attend production meetings in person or virtually and may not have access to team facilities or player and coaching staff. Brady may broadcast Raiders games. He must also abide by the league's constitution and bylaws, which prohibit public criticism of officials and other clubs.

Brady also owns a minority stake in the WNBA's Las Vegas Aces, which is owned by Davis.

Pro Football Hall of Fame member Richard Seymour, who played with Brady in New England, also received approval Tuesday to purchase a minority stake in the Raiders.

Brady and Seymour are the third and fourth former NFL players to become owners, joining George Halas Sr. and Jerry Richardson.

The Raiders have not won a Super Bowl since their third title in eight years following the 1983 season. They won their first two championships in Oakland and the last in Los Angeles. They moved to Las Vegas in 2020 and have not won a playoff game since a Super Bowl loss to Tampa Bay on January 26, 2003.