Brady’s bid to buy Raiders’ stake ‘making progress,’ commissioner says

ORLANDO, Fla. — NFL commissioner Roger Goodell said Tuesday that Tom Brady’s almost yearlong bid to purchase a limited stake in the Raiders is on the right track.

Brady is teaming with Tom Wagner, the co-founder of Knighthead Capital Management, to buy what is believed to be a 10 percent stake. Their group has been in talks with Raiders owner Mark Davis for more than 10 months, but the transaction has been held up by the NFL finance committee.

Davis said he met with the committee this week at the league’s annual meetings. He declined to get into specifics.

One possible snag is the price point Davis and Brady are discussing, according to a person with knowledge of the situation.

Owners don’t want Brady to get a discount relative to the Raiders’ $6.2 billion valuation because it would hurt their chances of maximizing similar limited partnership sales.

Also, when the Raiders, Rams and Chargers received permission to relocate their teams in 2016 and 2017, they agreed to a flip-tax stipulation in which fellow owners got a piece of the sales prices. The owners could want Davis to sell at a higher price point to maximize their 10 percent cut.

There’s also the matter of Brady joining Fox this season as an analyst. That could raise apprehension among owners about a conflict of interest. He would participate in pregame meetings with coaches and players and be privy to sensitive information.

Goodell did not specify why the deal is being held up.

“I wouldn’t say it’s a delay,” he said. “We go through a very thorough process.”

Contact Vincent Bonsignore atvbonsignore@reviewjournal.com. Follow @VinnyBonsignore on X.