Brady to become Raiders minority owner pending NFL approval

The Las Vegas Raiders and Tom Brady agreed to terms on a deal that would make the former quarterback a minority owner in the team and submitted the contract to the NFL, team owner Mark Davis told ESPN's Paul Gutierrez on Monday.

"We're excited for Tom to join the Raiders," Davis said.

The partnership still requires at least 24 owners' approval. This won't occur during this week's spring meetings, according to Sports Illustrated's Albert Breer.

Brady and Davis have an existing business relationship. The future Hall of Famer became a partial owner in Davis' WNBA franchise, the Las Vegas Aces, in March.

Brady's 10-year, $375-million broadcasting contract with Fox that starts in 2024 will reportedly be unaffected.

The 45-year-old retired in February after 23 NFL seasons split between the New England Patriots and Tampa Bay Buccaneers. He holds a multitude of records, seven Super Bowl titles, and three MVP trophies.