💬 Quoted

"Although [he] can't play, I think he can help us select a quarterback in the future and potentially train [him] as well."

If you’ve ever wondered whether animals can own NFL franchises, it seems the answer is “yes.” The GOAT 🐐 Tom Brady officially became part-owner of the Las Vegas Raiders yesterday, after all 32 NFL teams voted unanimously to approve his bid.

The bid, a joint effort between Brady, Knighthead Capital co-founder Tom Wagner, and Brady's Hall of Fame former Patriots teammate and ex-Raider Richard Seymour, reportedly secures ~10% ownership of the franchise at a $3.5 billion valuation – a seemingly great deal for the trio.

• The Raiders are the NFL’s fifth-most valuable franchise, according to CNBC’s Official 2024 NFL Team Valuations, worth $7.8 billion. This implies a discount of 50+%; sports bankers say the typical discount for a limited partner with no say in how the team is run and no path to control ownership is 20%–25%.
• Brady's deal was initially agreed upon in May 2023, but it took owners 17 months to give their approval over concerns he was receiving too big a discount from Raiders majority owner Mark Davis.

Stipulations: Brady, who’s currently in the front-end of a 10-year, $375 million broadcasting deal with Fox Sports, will have to abide by restrictions on how he covers the team, as well as the NFL’s fine policy for owners that prevents criticizing game officials or other franchises.

🏈 By the numbers: Brady and Seymour are the third and fourth former NFL players to become owners.

🧠 Stat of the Day

1 in 4 US adults (25%) suspect they have undiagnosed ADHD, per a new national survey commissioned by The Ohio State University Wexner Medical Center and College of Medicine. Officially, just 4.4% of Americans between the ages of 18 and 44 have the condition, though many people aren’t diagnosed until they’re older.

🤔 Did You Know? 

Author Mark Twain invented a detachable clothing strap in 1871 that closely resembles the clasps used in modern-day women’s bras.

📰 Worth a Read

He Was a Monk, Then a Billionaire, and Now an Alleged Tax Cheat → (Wall Street Journal)