Tom Brady's minority stake in the Las Vegas Raiders has been approved by NFL owners

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 that was unanimously approved by NFL team owners Tuesday at the league's annual fall meeting.

In a lengthy statement to X, Brady said he was “incredibly humbled and excited” to receive the approval.

“I am committed to contributing to the organization in every way possible, honoring the Raiders' rich tradition while pursuing every possible opportunity to improve what we offer to fans… and most importantly, WIN football games,” Brady wrote.

Brady also thanked Raiders majority owner Mark Davis, NFL commissioner Roger Goodell and others.

“It’s an exciting day for the Raider organization,” Davis said. “Even though Tom can't play, I think he can help us select a quarterback in the future and possibly coach him as well.”

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. 47 year old Brady I can't get out of retirement and play again unless he sells his share of the team.

“It’s great that Tom Brady wants to invest in the NFL,” Goodell said. “He cares deeply about this game. He believes in his future and I think this is just a sign of that.”

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 Davis. Brady's new job as a broadcaster with Fox was also an issue as it could pose a conflict of interest.

“There were a lot of things that had to happen from a structural and due diligence perspective, which is why it took so long to get it approved and for us to finally get everything under control,” Chiefs owner Clark Hunt said.

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.

“This is the mission of my life, and I embrace it with both purpose and pride,” Seymour posted on .

Brady and Seymour are the fifth and sixth former NFL players to become owners, joining George Halas Sr., Jerry Richardson, Warrick Dunn and John Stallworth.

Davis joked that he didn't particularly like Brady as an opponent, but he tried hard to sign him as a free agent in 2020 before the 15-time Pro Bowl QB left for Tampa Bay.

“We’re really proud to have him as part of the organization,” Davis said. “He’s a competitor, he’s a smart young man. There are just so many plus points for both sides. It’s great.”

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.