Tom Brady has been given approval by the NFL's team owners to buy a 5% stake in the Las Vegas Raiders.

The 47-year-old retired for the second time in February 2023, having won seven Super Bowls across 23 seasons in the NFL.

Speaking about his investment, Brady said he was "incredibly humbled and excited" to be given the opportunity to work with the Raiders.

"Throughout my NFL career, I've learned that at its core, football is a game of teamwork, resilience and a relentless pursuit of excellence," he wrote in a statement.

"The Raiders franchise and city of Las Vegas embody these same values, and I'm honoured to become part of that story."

Brady has kept himself busy since leaving the NFL as a player. In March of last year, he purchased a minority stake in the Las Vegas Aces before they went on to win the WNBA Championship.

Last August, he also became a minority owner of EFL team Birmingham City, in partnership with investment group Knighthead Capital Management.

Commitment to Excellence @Raiders pic.twitter.com/GS0WwHkAtz

— Tom Brady (@TomBrady) October 15, 2024

On his latest acquisition, Brady needed 24 votes from NFL owners to get the green light but received a unanimous 32 during a meeting in Atlanta.

"I'm excited to contribute to the organisation in any way I can, honouring the Raiders' rich tradition while finding every possible opportunity to improve our offering to fans," he said. "And most importantly, WIN football games."

Brady isn't the only person pleased with his acquisition, with NFL commissioner Roger Goodell happy to see him back in the sport.

"It's great that Tom Brady wants to invest in the NFL," he said. "He cares deeply about this game, he believes in its future, and I think that's just a signal about it."