Tom Brady’s bid to buy a piece of the Raiders has hit a snag.
NFL owners are “not expected to ratify” his minority ownership status at their meetings on Oct. 17-18 in New York as “concerns” have arisen about Brady getting the stake at a steep discount, according to a report from the Washington Post.
The outlet cited a source as saying that Brady would be unlikely to be approved by the league’s finance committee at the given price, and said it was unclear whether Brady would be willing to increase his bid.
The story specified that Brady would be purchasing a stake of between 5 and 10 percent of the franchise, and the estimates of the league finance committee were that he would be receiving a discount relative to the market value of up to 70 percent.
It “can’t happen at that price,” the source reiterated.
The exact dollar amount of what the league believes the ownership stake would be worth wasn’t disclosed, but Forbes’ most recent valuations pegs the Raiders to be worth $6.2 billion in total.
For comparison, the Commanders just sold to Josh Harris’ group for $6.05 billion.
Nevertheless, there was reportedly a sentiment that the ownership collective does want Brady to take a stake in the Raiders and that “maybe there’s a compromise” to be had.
Brady, 46, retired from the NFL earlier this year after 23 seasons and seven Super Bowl championships.
He has been adamant that he is staying retired, but speculation as to whether he’d come back will likely linger as long as his deal with the Raiders has not closed.
In addition to his attempt to join the ownership ranks, Brady has signed a 10-year deal worth $375 million to eventually be the lead color commentator on Fox Sports’ NFL coverage.