NFL ownership is an exclusive club. Seven of the top 10 most valuable franchises in sports are NFL teams, so it’s almost impossible for anyone to gather enough capital to break in as a minority owner. Forget being a majority owner.
The Dallas Cowboys franchise is No. 1, valued at $9 billion. The New England Patriots are fourth ($7 billion). The L.A. Rams are fifth on the list ($6.9 billion) and the New York Giants are sixth on the list ($6.8 billion). The Chicago Bears are the seventh-highest valued franchise at $6.3 billion, followed by the Las Vegas Raiders ($6.2 billion) and the New York Jets ($6.1 billion).
We know that a Black person has never owned an NFL team and there are none that we know of who own a significant stake with any of the 32 teams’ current ownership. Only two of the NFL owners are minorities; Jacksonville Jaguars owner Shahid Khan and Kim Pegula, co-owner of the Buffalo Bills, who is of South Korean descent.
Some people blame systemic racism and generations of financial oppression. Others accuse the ownership group of being a good ol’ boys network that won’t be infiltrated or forced into diversifying.
While people of color can be angry and frustrated about the lack of Black ownership and the obstacles presented to any Black ownership group that might try to gather the billions in capital needed to purchase a pro sports franchise, NFL owners aren’t just making it hard for Black folks with money to buy in.
NFL Owners Not Ready For Tom Brady To Join The Club
Tom Brady is having problems getting his feet wet in the ownership game and the other owners are his main impediment. The Las Vegas Raiders owner was all prepared to make Brady one of the owners of his franchise.
Reports say Brady and his ownership group was offered a 10 percent minority share for about $175 million in October of 2023 and Brady would have sole ownership of 7 percent.
But there were concerns from the finance committee reviewing Brady’s portfolio, that his share was being sold below market value. Naturally, Mark Davis isn’t that concerned with selling Brady a percentage of the franchise because of Tom’s legendary status as the NFL GOAT QB, his marketability, popularity and his future earrings which should only increase, with his $375 million announcing deal that kicks in this year.
The NFL owners are haters, however, who don’t want anybody buying into their exclusive club, especially not a former player who just retired two seasons ago — even if his name is Tom Brady. The process will be as hard as any Super Bowl win.
Indianapolis Colts owner Jim Irsay told the Boston Globe straight out that he had a problem with the accuracy of the $175 million valuation.
“The number has to be a reasonable number for a purchase price for Tom, that’s the only thing. If a reasonable value says that 10 percent should be $525 million, you can’t pay $175 million.”
The bid will move on to be further scrutinized at the annual NFL meeting, but reports say that Brady’s ownership bid will not be voted on at that time, triggering a long delay for the retired NFL legend who hoped to be on track to approval by league owners after adjusting his original bid to address the earlier concerns about pricing below market value.
NFL owners aren’t willing to move the qualification needle, even for the great Tom Brady, so it’s unlikely they would show any leniency to a Black ownership group looking to make history and break into one of the steel doors toward generational wealth.
When Will A Black Person Get Significant Ownership In NFL Team?
Black billionaire media mogul Byron Allen said in 2022 that Roger Goodell and Bob Kraft approached him about buying the Denver Broncos prior to Walmart heir Rob Walton buying the franchise for a whopping $4.65 billion, more than double the amount any team in NFL history had ever been purchased for.
Walton reportedly brought in three African-Americans as minority owners: Former Secretary of State Condoleeza Rice, Ariel Investments co-CEO Mellody Hobson and, according to recent reports, Formula 1 legend Lewis Hamilton. So that’s a step, even if a symbolic one.
Will Tom Brady Get To Buy 10 Percent Of Raiders For $175M?
It can be assumed that Brady got a deal that Mark Davis would only offer a select few, and his privilege put him in this position. Once that’s accepted, he’s still currently being roadblocked by a level of collusion capitalism that Brady’s popularity probably can’t help him circumvent at this moment.
The Raiders are valued at over $6 billion, so $175 million isn’t anywhere near 10 percent. A move of that nature definitely changes the way the owners like to play the game and opens too many doors for others to get similar kinds of deals.
If you are wondering why Brady even would want a piece of the Raiders, look no further than his Bay Area roots. Growing up, he cheered for the San Francisco 49ers, and the Raiders were the team across the bay. He just bought in as part owner of the Las Vegas Aces WNBA franchise as well, so maybe in a year or two he will be in position to make it happen.
For now, just understand that no one should take it personally if NFL ownership is harder to crack than the Svalbard Global Seed Vault in Spitsbergen, Norway. They aren’t even willing to budge for Tom Brady, who most of the known world bends over backward for.
