Tom Brady finalizes deal for minority stake in Raiders: report

New England Patriots quarterback Tom Brady (12) in NFL action against the Oakland Raiders in Mexico City, on Nov. 19, 2017. (Rebecca Blackwell / AP)

Tom Brady has finalized a deal to become a minority owner in the NFL.

The seven-time Super Bowl champion and three-time MVP has agreed to purchase a minority stake in the Las Vegas Raiders from Mark Davis, Sports Illustrated reported Monday.

The agreement has been sent to the NFL for approval, but that won't come at this week's owner meetings in Minneapolis. Brady needs approval from 24 owners to ratify the deal.

Brady, 45, already holds a stake in another one of Davis' teams, the defending WNBA champion Las Vegas Aces.

Brady's 10-year, US$375 million contract with Fox Sports reportedly would be unaffected by an investment with the Raiders, per reports. He's not joining Fox until 2024.

Brady announced his retirement from the NFL on Feb. 1 after 23 seasons.

Brady set NFL records for wins by a quarterback (251), Super Bowl wins, passing yards (89,214) and passing touchdowns (649) during his career with the New England Patriots (2000-19) and Tampa Bay Buccaneers (2020-22).