Tom Brady won’t be able to keep his BetMGM endorsement for long

Tom Brady and BetMGM Sportsbook are headed for a break-up. 

If and when the NFL approves Brady’s status as a minority owner of the Las Vegas Raiders, the legendary quarterback will have to sever ties with the mobile sports betting company due to league gambling rules.  

“NFL personnel are prohibited from engaging in, using or permitting the use of one’s name or images in connection with activities or materials that depict, advertise, market or promote any form of gambling, including sports betting,” the NFL told Pro Football Talk’s Mike Florio this week. 

There is a wrinkle that could allow Brady to stay involved with BetMGM after the transaction goes through – NFL owners are allowed to own up to a five percent equity stake in sports betting companies, although they aren’t allowed to market for them. 

Brady came to an agreement with Raiders owner Mark Davis last May to become a minority owner of the team.

“The opportunity came about to become a minority owner in the Raiders, it was a dream come true for me,” Brady said in an interview with the Associated Press at the time. “I’ll be playing a very passive role. This is something that I’m interested in doing for the rest of my life. This is not something that I’m into it for a year or two years.” 

But his 5-10 percent purchase of the franchise has been in limbo since October after concerns arose about the purchasing price he came to terms on with Davis.  

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The Washington Post reported in October that Brady was getting a discount of up to 70 percent compared to the team’s market value from Davis, with a source telling the outlet that it “can’t happen at that price.”

Brady is staying busy during his post-playing days, which has included signing a 10-year deal worth $375 million to eventually be the lead color commentator on Fox Sports’ NFL coverage in addition to his potential Raiders partnership.